The power utility is finally in a leading position, albeit negative. It reported a net loss of R21 billion, higher than any single company in South Africa. And for once, not all the money went to the pockets of its massive staff complement of more than 46 000 or the top jocks’ pockets, but for diesel to keep the lights on in the country.
Not enough coal now that the Guptas are gone, 10 power stations had no coal and South Africans went back to the dark ages with candle sales spiking across the country.
Non-paying customers ensured that a further R20 billion could not be accounted for. Interest on loans to keep its doors open, amounts to R69 million.
So far almost 2000 posts have been slashed, another 3000 have to go, but still, salaries were increased and bonuses paid. If not, the masses would strike, because the golden goose of tax money, has to provide golden eggs until it will eventually will be killed as SAA and Denel, oh yes, and Transnet, and…..and…..#Havemoneywillwaste.