Eskom full-year net loss doubles to R24-billion

October 31, 2023 Siyabonga Mtangana

Eskom said on Tuesday that its net loss in the financial year that ended in March 2023 had widened to R23.9-billion.

That’s from a revised R11.9-billion in the previous year.

This year, Eskom has implemented the worst power cuts on record, with outages of up to 10 hours a day curbing economic growth and fuelling public frustration.

Government has pledged to split Eskom into three subsidiaries to try to make it more efficient. In February, it agreed to take on more than half its total debt to bolster its finances. — (c) 2023 Reuters