Featured

Shortly after Eskom briefed the Portfolio Committee on Public Enterprises on its annual performance plan and financial report, during which the Committee welcomed investigations into misconduct at the utility, Eskom announced its group head of capital, Abraham Masango, has been cleared of all charges against him. Masango was suspended in November last year following a forensic investigation that alleged he was involved in serious misconduct.

Parliament welcomes Eskom cleanup“There were a number of allegations that were levelled against him. Primarily around allegations of him having received bribes at Kusile and Medupi Power Stations. But all of those things were put to the test and ultimately it was proven that there was no wrongdoing on his part,” said spokesperson Khulu Phasiwe.

“The Committee welcomes the ongoing investigation by Eskom into 239 cases of employee misconduct. The Committee is pleased to hear that punitive steps are being taken against employees who have been involved in acts of corruption,” it said in response to Eskom saying will be implementing lifestyle audits on employees.

The Chairperson for the Committee, Lungi Mnganga-Gcabashe, added that proper steps and action must be taken against contractors who are not compliant. “Consequence management needs to be enforced when processes are being flouted,” she said.

The Committee was equally cautious about the utility’s annual report, saying that Eskom has presented beautiful annual reports in the past, and yet now finds itself on the verge of collapse. It noted with concern the amount of R13.5bn that municipalities owe the power utility, in response to which Eskom appealed to the committee for intervention on this matter, as it is “beyond its control”. 

Since its appearance in front of the Committee, Eskom has announced that the board has approved a borrowing plan of R72-billion. This is necessary to ensure adequate liquidity, it said in a statement.

“Capital expenditure is being funded by debt. Since the appointment of the new board on January 20, investor sentiment has improved substantially. We are looking to leverage on this in future,” Acting Chief Financial Officer Calib Cassim said. “Financial and capital markets are starting to see changes in Eskom,” added deputy board chair Sindi Mabaso-Koyana at a press briefing.

Image credit: https://twitter.com/khuluphasiwe

Magazines

African Fusion

AfricanFusionAfrican Fusion, the official publication of the Southern African Institute of Welding (SAIW), aims to provide up-to-date insight into welding technology and the welding industry.

Capital Equipment News

Capital Equipment News is dedicated to the application of equipment and modes of transport that are used in the mining, construction, quarrying, and transport industries.

Construction World

ConstructionWorldConstruction World was first published in 1982 and has grown to become a leader in its field, offering a unique mix of editorial coverage to satisfy the diverse needs of its readers.

Electricity + Control

ElectricityandControlE + C publishes innovative, technical articles that provide solutions to engineering challenges in measurement, automation, control, and energy management.

Lighting in Design

LightingandDesignLighting in Design is a glossy, upmarket publication aimed at lighting professionals. It is the only B2B magazine in SA that is dedicated solely to the subject of lighting.

MechChem Africa

MechChemJanuary2017cover MechChem Africa supports African engineering and technical managers across the full spectrum of chemical and mechanical disciplines.

Modern Mining

ModernMiningEstablished in 2005, Modern Mining is one of SA's leading monthly mining magazines, noted for the quality and accuracy of its writing and the breadth of its coverage.

Modern Quarrying

ModernQuarryingModern Quarrying is firmly entrenched as a leading industry-specific magazine. It focuses on promoting the science and practice of quarrying and processing in southern Africa.

Sparks Electrical News

SparksElectricalNewsReadable and informative, Sparks Electrical News is the newspaper for those involved in installing and maintaining electrical supplies and equipment.

 
Full Name*
Invalid Input

Company Name*
Invalid Input

Your Email*
Invalid Input

Phone*
Invalid Input

Postal Address 1*
Invalid Input

Postal Address 2*
Invalid Input

Postal Code*
Invalid Input

Street Address 1
Invalid Input

Street Address 2
Invalid Input

Postal Code
Invalid Input

Town / City*
Invalid Input

Country*
Invalid Input

Magazine

Invalid Input

Invalid Input