On Tuesday, auditor-general (AG) Tsakani Maluleke expressed her concern about Eskom's unimpressive audit outcome, saying it is making electricity more expensive for the masses. She could have added that the habitual irregular and wasteful expenditures as well as criminal activities at the state-owned power-generating company pose a threat to the stability of our democracy.
The AG and her office dropped bombshells while briefing parliament’s standing committee on public accounts (Scopa) on Eskom’s annual reports and financial statements for the 2023/24 financial year. Among these was the revelation that the power utility continued the habit of submitting financial statements riddled with material misstatements in multiple account balances and disclosures.
Despite receiving a qualified audit opinion, the excesses the Special Investigations Unit (SIU) pointed out on Wednesday should leave the nation numb at the lack of sensitivity by Eskom executives. The company's business has been in the doldrums for decades, leading to a reduced capacity to generate and maintain power supply.
Coupled with many years of load shedding, public life has been miserable for the poor who can't afford the ever-rising power tariffs. On the other hand, some businesses closed when it became impossible to operate without electricity. This added to the misery of the poor through job losses, meaning more ordinary people have become unable to afford electricity.
In his turn to address Scopa, SIU head Adv Andy Mothibi did not mince his words, outlining the work SIU is doing to investigate criminal activities at Eskom.
By revealing the existence of networks and schemes involving employees, set up to manipulate procurement processes, Mothibi was essentially saying the firm has been held hostage by criminals within. Though no Eskom executive has been singled out for this widespread corruption, that more than R1bn has been stolen leaves a bitter taste in the mouth.
It is hard to believe that the bosses did not know about a criminal operation of mafia proportions taking place under their noses. If they claim ignorance about these crimes, they must step down to save Eskom and the country from further harm.
The importance for Eskom's business to be stable, progressive and forward-thinking is indisputable. The company owes it to its owners, the people of SA, to run an efficient show and contribute towards growing the economy and stable public life.
What is happening in Eskom is an insult to the constitution and the hard-fought democracy of this nation. The lack of action by management to protect this key national institution from the clutches of criminals is deplorable.
SOWETAN SAYS | Eskom theft: Execs should be held liable
Image: Siphiwe Sibeko
On Tuesday, auditor-general (AG) Tsakani Maluleke expressed her concern about Eskom's unimpressive audit outcome, saying it is making electricity more expensive for the masses. She could have added that the habitual irregular and wasteful expenditures as well as criminal activities at the state-owned power-generating company pose a threat to the stability of our democracy.
The AG and her office dropped bombshells while briefing parliament’s standing committee on public accounts (Scopa) on Eskom’s annual reports and financial statements for the 2023/24 financial year. Among these was the revelation that the power utility continued the habit of submitting financial statements riddled with material misstatements in multiple account balances and disclosures.
Despite receiving a qualified audit opinion, the excesses the Special Investigations Unit (SIU) pointed out on Wednesday should leave the nation numb at the lack of sensitivity by Eskom executives. The company's business has been in the doldrums for decades, leading to a reduced capacity to generate and maintain power supply.
Coupled with many years of load shedding, public life has been miserable for the poor who can't afford the ever-rising power tariffs. On the other hand, some businesses closed when it became impossible to operate without electricity. This added to the misery of the poor through job losses, meaning more ordinary people have become unable to afford electricity.
In his turn to address Scopa, SIU head Adv Andy Mothibi did not mince his words, outlining the work SIU is doing to investigate criminal activities at Eskom.
By revealing the existence of networks and schemes involving employees, set up to manipulate procurement processes, Mothibi was essentially saying the firm has been held hostage by criminals within. Though no Eskom executive has been singled out for this widespread corruption, that more than R1bn has been stolen leaves a bitter taste in the mouth.
It is hard to believe that the bosses did not know about a criminal operation of mafia proportions taking place under their noses. If they claim ignorance about these crimes, they must step down to save Eskom and the country from further harm.
The importance for Eskom's business to be stable, progressive and forward-thinking is indisputable. The company owes it to its owners, the people of SA, to run an efficient show and contribute towards growing the economy and stable public life.
What is happening in Eskom is an insult to the constitution and the hard-fought democracy of this nation. The lack of action by management to protect this key national institution from the clutches of criminals is deplorable.
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