The state-run entity Eskom still gets away with ridiculous decisions, which cost them and the consumer money, and benefits only a few.
It appears from the financial statements that Eskom doubled its bonuses for workers over the past fiscal year by R4.2 billion. Meanwhile, Eskom has an increased loss and boasts a qualified audit report while its debt is 10% more than last year. According to the external auditor, Eskom also incurred R3 billion of unlawful expenses.
Of the bonuses paid out, R2.1 million is for former CEO Brian Molefe, R1.8 million for Matshela Koko, and R1.8 million for financial head Anoj Singh. It is clear that these bonuses are only a small fraction and it is not certain who the big beneficiaries are.
While Eskom can throw money away for bonuses, they asked the National Energy Regulator (Nersa) for a total of 57% increase in revenue to earn R23 billion. As Eskom has the monopoly on electricity delivery, consumers are exploited to finance the bonuses.
Read the original article in Afrikaans on Die Vryburger
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