Today's Labour News

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eskomNews24 reports that state-owned power utility Eskom on Sunday lashed out at weekend media reports that it was "broke", saying it was confident it could keep operating.  

"Eskom refutes the notion that it is facing a cash crisis, and that it has only enough cash to last for the next three months.  The company is confident that it will maintain sufficient liquidity to support its operations," it indicated in a statement.  The company added, however, that, because it was making an official announcement on its finances this coming Wednesday, "Eskom is not in a position to respond comprehensively to the specific issues raised at this stage".  The Sunday Times newspaper published an article on Sunday in which it claimed that, according to financial statements it has seen, Eskom only has enough money to last approximately three months.  Nonetheless, according to the publication, Eskom has proposed to pay millions in bonuses, including to former CEO Brian Molefe and suspended acting chief executive Matshela Koko.

  • Read this report in full at News24
  • Read Eskom’s press statement at Politicsweb

Get other news reports at the SA Labour News home page