Johannesburg - Finance Minister Tito Mboweni has warned that the problems at Eskom ran far deeper than money.
This after opposition MPs blasted him and the government for the R59 billion bailout to Eskom following the approval of the Special Appropriations Bill by the National Assembly on Tuesday. Mboweni said the issues at Eskom were complex and required tough solutions.
“Some of the members have stood here and said Eskom this, Eskom that. Eskom is a business and is run by people. One of the things we must do is to appoint the right people. The problem at Eskom is not just finances.”
Chairperson of the standing committee on appropriations Sfiso Buthelezi said the bailout was not a blank cheque and the situation cannot be allowed to continue. Eskom has a debt of R440bn and requires government bailouts to stay afloat.
It told Parliament three weeks ago that it expected to suffer a loss of R21bn next year.