👨🏿🚀TechCabal Daily – Eskom reports $1.2 billion loss
- Eskom records a loss of R24 billion ($1.2 billion) for the 2022/2023 financial year.
- Eskom's decreasing generation capacity, increased municipal debt, and losses due to criminal activity are the main reasons for the loss.
- The acting CEO is optimistic about a government bail-out fund to stabilize the company.
The financial loss of Eskom is a significant concern for the company and the South African power sector. The decreasing generation capacity and other financial challenges need to be addressed urgently to ensure the stability and sustainability of the company. The government's proposed bail-out fund may provide some relief, but long-term solutions are necessary to overcome these issues.
