The Congress for South African Trade Unions (Cosatu) wants the entire board of Eskom to be fired after it says the board has shown it is not able to deal with the power utility’s problems.
The tripartite alliance partner says board chairman Jabu Mabuza, who is also an acting chief executive officer (CEO), has proved that he is not fit for the job.
That the beleaguered power utility has lost R21 billion this year.
While the Eskom has been able to keep the lights on, for now, it seems it is struggling to manage its books.
Eskom lost R21 billion this year and is projected to lose R20 billion in 2020.
This is despite the billions in bailouts the power producer has received from the government.
Cosatu‘s Michael Shingange said, “The R21.5 billion that they could not account for, and they are expecting to lose more 20 billion in the next financial year. The government has given them an R59 billion bailout and given them stricter conditions in order for them to meet them so that they can access those finances. But they could not confirm that they could meet those conditions, including turning around the situation at Eskom.”
Despite being alliance partners with the African National Congress, Cosatu has little faith that their plan is enough to save Eskom.
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Source – EWN
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