Chairperson, the NFP is disturbed by what has happened in Eskom. The recent load shedding has affected our country severely. It seems there is a lot that is going on in the state-owned entities, SOEs. We were hoping that with the introduction of new board and management, things would turn for the better.
It has moved from bad to worse, and Eskom is technically insolvent. We are not sure whether this bunking exercise will add value to the company. Eskom has a debt of R440 billion and it is projecting net loss of
R20 billion. Almost R200 billion has been poured into two power stations, those are Medupe and Kusile, but we have not got the results.
We are told that some of the infrastructure that is used in Eskom is old and that it needs to be upgraded. We also hear that the company lacks a mix of technical skills. The end result is poor performance. This coupled with