Discover and read the best of Twitter Threads about #eskom

Most recents (17)

1. #NHI would be an important milestone for progressive realisation of socioeconomic rights in #SouthAfrica. The financing concerns raised by the #DavisTaxCommittee in 2017 have however not been addressed. @judith_february @thabileoka

taxcom.org.za/docs/20171113%…
2. Since 2017, the fiscal situation has deteriorated to the extent that cutting civil servant salaries - the holiest of holy cows in #SouthAfrica - has entered the public debate. National Treasury is saying the cupboard is bare, but the Department of Health thinks otherwise.
3. The hole in our fiscus due to corruption and mismanagement at #ESKOM and other SOEs will continue to hit us 2026 and afterwards. We have chosen to use our limited fiscal space to fund free Higher Education not health. There are always tradeoffs, and that one has been made.
Read 8 tweets
On the 24th of May 2019, Phakamani Hadebe finally resigned as the CEO of Eskom.

Since then, the country has been been under the impression that a search for a new CEO was underway.

This week, the chairperson of Eskom took over as acting CEO for 3 months.

All good so far right?
Surprisingly, today (31 July 2019), 68 days after Hadebe's resignation was made public, Eskom issued an RFQ for a service provider to assist with the process of finding a new CEO. Now we can forgive a lot of things that this administration is accused of but this is a big problem.
The fact that Hadebe resigned was always a matter of when rather than if. Then it became a matter of why he would torture himself through the vagaries of serving a notice period (cc Vuyani Jarana). In other words the resignation was inevitable & could not have surprised the board
Read 18 tweets
Vandag by Sakeliga: ‘n openbare saakbespreking, met gasspreker prof Hennie Rossouw.

Op grond van “nuwe” en “bepalende” argumente aangevoer deur Sakeliga in die hoë hof in Pretoria kan plaaslike sakegemeenskappe waarskynlik miljoene rande se regskoste teen Eskom spaar. #Eskom
Piet le Roux: Sakeliga het in die Resilient-saak as vriend van die hof betrokke geraak met die doel om nuwe regspraak te help skep wat op nasionale vlak gemeenskappe (en veral sakelui) toegepas kan word.
Volgens Peter Wassenaar van Kriek Wassenaar & Venter - kernbelang is om te onthou dat ons hier met twee staatsinstelling te kampe het. Eskom en munisipaliteite se dispute moet dus met 'n bepaalde benadering hanteer word.
Read 15 tweets
#StateCapturInquiry Former Optimum CEO Clinton Ephron will testify on the business rescue of that mining company before it was acquired by Tegeta with #Eskom @Eskom_SA help in late 2015. Proceedings begin at 10:00.
#StateCaptureInquiry Much of the #Eskom @Eskom_SA testimony @StateCaptureCom so far repeats what was discussed in @ParliamentofRSA’s inquiry into the parastatal and allegations of corruption, fraud and state capture (see below).
#StateCaptureInquiry Ephron is, says Advocate Vincent Maleka SC, able to talk about the late 2015 meeting at the Dolder Grand Hotel in Zurich, Switzerland which then Mineral Resources Minister Mosebenzi Zwane reportedly attended with Ivan Glasenburg of Glencore.
Read 83 tweets
Today at 10:00 Justice Minister Michael Masutha is holding a briefing on #Bosasa and @DOJCD_ZA contracts with the company now known as African Global Operations and its subsidiaries. Two former Correctional Services seniors, Linda Mti and Patrick Gillingham, have been charged.
On Friday, a statement on behalf of the #StateCaptureInquiry @StateCaptureCom Chairperson Deputy Chief Justice Raymond Zondo announced contracts for GTS (formerly Sondolo IT) to provide security to the commission were not awarded correctly.
Zondo indicated GTS work at the #StateCaptureInquiry was investigated after a journalist raised the alarm on the company’s links to #Bosasa. That journalist is @CowansView of @News24 (his story also appeared in @City_Press).
Read 74 tweets
@Eskom_SA @StateCaptureCom #StateCaptureInquiry Maleka says there has been no response as yet to the notices issued to the eight above. He mentions charges against Koko, disciplinary action against Daniels and charges against Kalima.
@Eskom_SA @StateCaptureCom #StateCaptureInquiry Maleka refers to a Rule 34 (4) notice from #Eskom @Eskom_SA to @McKinsey in relation to certain documents. He then mentions a Special Investigations Unit (SIU) investigation set out in a certain bundle.
@Eskom_SA @StateCaptureCom @McKinsey #StateCaptureInquiry Maleka says the legal team has raised concerns over the status of contracts with Tegeta and related entities. He predicts Mabuza will address this issue when he presents evidence this morning.
Read 55 tweets
We are back at the #StateCaptureInquiry today's witness is #Eskom board chairperson Jabu Mabuza. He is represented by Advocate Tembeka Ngcukaitobi
#StateCaptureInquiry Evidence Leader, Advocate Vincent Maleka and DCJ Raymond Zondo are now dealing with housekeeping matters and documents.
#StateCaptureInquiry Maleka tells Zondo the legal team has prepared a bundle of notices for individuals who will be implicated in Mabuza's testimony #Eskom
Read 75 tweets
This guy just chased his tail for 2mins. That’s all we can deduce from this (other than the attempt to blame elections for people scrutinizing his connections & “investments”).
Also, he legit inferred that citizens who are uneducated and/or not “middle class” are too dumb to make form their own opinions 🙃
And while we’re on the topic, he also refers to a “system”, but can only define it according to “legal” parameters. As if we don’t know what system he’s protecting & promoting.
Read 5 tweets
THREAD: "Time for interventions on specifics. #ESKOM board must ensure #diesel stocks are replenished. Also, ensure water levels restore to upper dams for OCGT plants." -Ronald Chauke.
Ramaphosa: Load shedding a 'hugely damaging reality check' via @Fin24 fin24.com/Economy/Eskom/…
"Exco should give weekly updates on number of irregular contracts being reviewed to be terminated to reduce pressure on #Eskom liquidity. Board should order exco to review procurement practices using middlemen who make Eskom buy at excessive prices."
"We need practical examples from #Eskom on how #costcutting is undertaken. Also, taxpayers wants to see timelines for this. And accountability for decisions at embattled power supplier." - Ronald Chauke, #OUTA's portfolio manager for energy.
Read 4 tweets
“When Eskom said to the government: ‘We think we must invest more in terms of electricity generation’...we said not now, later. We were wrong. Eskom was right. We were wrong.” - Former President Thabo Mbeki 2007
Until 2001, Eskom was not subjected to taxes, dividends or other typical commercial imperatives. Eskom did not have to bear the full economic opportunity cost of capital employed to finance its investments (incl risk).
It was able to amortise debt while maintaining artificially low electricity prices.
Read 8 tweets
#StateCaptureInquiry @StateCaptureCom Proceedings were set to commence at 10:00 today. #VytjieMentor is seated and has been working through some papers. She is set to undergo cross examination today. The Chairperson has just entered.
@StateCaptureCom #StateCaptureInquiry Mentor has raised a pointed finger (as she repeatedly did yesterday during testimony) and has a number of points she would like to address, including an independent witness to discuss the SAA records.
@StateCaptureCom #StateCaptureInquiry "It's not clear to me why we would need anybody else to come and testify than someone from SAA itself," says Zondo in reply to Mentor. She then questions the Home Affairs records, too.
Read 82 tweets
We currently have 14 cases at SAPS. But evidence for many more. Time for action against Zwane, Seleke, Gigaba, Molefe, the #Guptas, the #Zumas, Anoj Singh, Mark Pamensky, Hlaudi and others against whom we laid criminal cases in the past 3 years. Plenty of evidence ready for #NPA.
1) #OUTA also made several submissions to the #ZondoCommission (with evidence) on #StateCapture involving
Dan Mantsha, Gupta companies, Matshela Koko, MKMVA, TNA, Sinqumo Trust (Zuma's wife's trust), Trillian, Free State Premier's Office,
Transnet Second Defined Benefit Fund.
2) #OUTA also made submissions (or are in the process of submitting) evidence to #ZondoCommission on #StateCapture at #SABC, #ESKOM, #Denel, #SAA and #Transnet. We are in regular contact with investigating officers on all of this.
Read 4 tweets
#StateCaptureInquiry @StateCaptureCom hearings for 2019 begin today at 10:00. The first witness has not yet been announced. First, an application regarding testimony this week (likely that of the first witness) will be heard. Stay with #eNcA403 for updates throughout the day.
#StateCaptureInquiry @StateCaptureCom's first hearing of 2019 is about to begin. Advocate Mannie Witz is here with two juniors, representing whom is not yet clear.
#StateCaptureInquiry @StateCaptureCom Chairperson Deputy Chief Justice Raymond Zondo greets. Advocate Paul Pretorius stands and announces where the evidence leaders stand will be communicated to the public, before dealing with the preliminary matters related to the first witness.
Read 100 tweets
So last week, the President announced a Task Team to assist in the @Eskom_SA crisis.

This team is made up of the names reflected in this picture Tweeted by @JacaNews 👇👇👇
This team will support the board that was put in place after Nasrec. And support the executive team that is slowly being assembled at #Eskom. It all sounds good but there are some strange issues we need to discuss. Starting with why this Task Team has been appointed.
Eskom is the single most important balance sheet in the country. Its assets were valued at R739 billion in March 2018. Most are fixed assets - the infrastructure used to provide electricity. But, being the biggest balance sheet comes with the need to fund it all.
#Eskom
Read 23 tweets
1/The value of accurate information in the age of senseless rhetoric cannot be overestimated. Let's talk about the PIC, Eskom, SA taxpayers and pensions for example.
#Eskom @kayafm95dot9
2/Eskom's financial statements are naturally a financial reporting catastrophe. Flat revenues and escalating finance costs are a problem. A 61% increase in net finance costs is particularly troubling. This is due to more money borrowed at higher rates for example. @kayafm95dot9
3/In an ideal world, more money borrowed should mean more investment in the business which should then generate more money for the business in the long run. Sadly for#Eskom, more money borrowed is a double-edged sword since it gets consumed by operations rather than capex.
Read 22 tweets
[ON AIR] South African Council of Churches' Bishop Malusi Mpumlwana says they will remain being the moral campus of society and do not have a preference in leadership #ZumaResigns #sabcnews #sabcnews
[ON AIR] Future SA spokesperson, Mavuso Msimang says @CyrilRamaphosa has his job cut out for him but it can not be that difficulty #ZumaResigns #AMLive #sabcnews
[ON AIR] Future SA spokesperson, Mavuso Msimang says anybody who has been identified as being party of #StateCapture must be prosecuted #ZumaResigns #AMLive #sabcnews
Read 6 tweets
BREAKING: #Eskom's new charges against #MatshelaKoko include accusations that he deliberately lied to Parliament's #EskomInquiry - and tried to falsely distance himself from the payments to Gupta-linked Trillian
BREAKING: #Eskom laying the blame for the McKinsey/Trillian scandal firmly at the door of #MatshelaKoko and #AnojSingh - and says they drove the deal.
#MatshelaKoko told Parliament he was not involved in the Eskom, McKinsey, Trillian deal.
Eskom says he's lying --->
Read 4 tweets

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