Eskom

Deputy Finance Minister, David Masondo The Public Investment Corporation (PIC), Africa's biggest fund manager, must ensure that state-owned power utility Eskom will operate profitably before its R92 billion debt pile is converted to equity, said Deputy Finance Minister David Masondo.The plan proposed by workers' unions that the PIC convert its debt into equity to help…

Jan Oberholzer (Carla Lewis) Eskom chief operating officer Jan Oberholzer negotiated a contract with a construction firm in which he held shares and asked a subordinate to find a job for his brother-in-law without disclosing that he was a relative, according to probes commissioned by the company.A payment approved by Oberholzer to another contractor was…

Earlier this week it was revealed that Eskom had named engineering and construction firms ABB South Africa, Stefanutti Stocks and Basil Read Joint Venture, as well as Tubular Construction Projects, as contractors that had allegedly benefited from overpayments totalling R4 billion in the construction of Eskom’s giant coal-fired Kusile Power Station project in Mpumalanga. These alleged…

Eskom was able to dodge load shedding on Thursday, but the utility has again warned of an increased risk of rotational power cuts on Friday afternoon. The utility's spokesperson, Sikonathi Mantshantsha, on Friday morning warned of an increased risk of cuts between 4pm and 10pm after "a few other" generation units broke down. Find your load shedding schedule…

Stefanutti Stocks says Eskom is the one that owes it. Eskom says Stefanutti Stocks was overpaid to the tune of R1 billion for its work at Kusile.But the construction firm says it is the party owed by the power utility.It has taken the matter to an adjudicator.Stefanutti Stocks, one of the companies that Eskom fingered…