Eskom has justified its 20 percent tariff increase request by saying it would help turn its financial fortunes around.
The Parliamentary inquiry affairs at state power utility Eskom on Wednesday heard testimony from McKinsey & Company senior partner, David Fine.
McKinsey & Company will reportedly pay back the R1-billion Eskom paid it, senior partner David Fine says.
Eskom’s revenue, cash flow and bottom line are under severe pressure, a final draft report by Eskom to Public Enterprises Minister Lynne Brown reportedly says.
Eskom has blamed its financial mess on state capture and is planning on shutting power to municipalities and households that owe it a collective R11-billion.
South African power utility, Eskom, said the proposed 20 percent electricity hike was completely justified.
Embattled state-owned enterprise Eskom has found a scapegoat for its irregular dealings with Gupta-linked Trillian Capital Partners.
Two municipalities in the Free State have been revealed to be Eskom’s biggest defaulters.
Black Leadership South Africa (BLSA) said its suspension of Eskom was sill in full force, despite both parties engaging with one another during the past week.
McKinsey’s attempts to distance itself from links to Gupta businesses suffered a blow after details emerged of it receiving kick-backs in a Transnet deal.