Eskom reports R20-billion loss
Eskom has reported a major loss for the 2018/19 financial year.
Board chairperson, Jabu Mabuza says while the results were expected, they are unfavourable.
The power utility has released its financial results at Megawatt Park in Johannesburg.
"The organisation disappointingly incurred a net loss after tax of R20.7-billion," said Mabuza.
He said the amount is a significant increase from the R2.3-billion loss in the previous year.
Mabuza says Eskom's problems cannot be resolved in isolation or overnight.
"We welcome the Special Appropriation Bill tabled by the Finance Minister last Tuesday, which will enable the government to allocate further fiscal support for the 2019/20 and 2021 financial year."
The power utility has released its financial results at Megawatt Park in Johannesburg.
"The organisation disappointingly incurred a net loss after tax of R20.7-billion," said Mabuza.
He said the amount is a significant increase from the R2.3-billion loss in the previous year.
Mabuza says Eskom's problems cannot be resolved in isolation or overnight.
"We welcome the Special Appropriation Bill tabled by the Finance Minister last Tuesday, which will enable the government to allocate further fiscal support for the 2019/20 and 2021 financial year."
