Connect with us

Hi, what are you looking for?

ZA News OnlineZA News Online

Local News

Eskom exempted from disclosing financial losses


The National Treasury has explained why Eskom was exempted from disclosing irregular and fruitless expenditure. Finance Minister Enoch Godongwana exempted the embattled power utility from Section 55(2)(b)(i) of the Public Finance Management Act (PFMA) for the last financial year and the next two years, as per the gazette published on 31 March. In a statement, National Treasury explained that having irregular, fruitless and wasteful expenditure on annual financial statements may put further pressure on the public purse.

National Treasury also emphasised that Eskom is still bound to other strict financial reporting requirements including those of the International Financial Accounting Standards (IFRS), the JSE Debt Listing Requirements and reporting obligations to parliament and oversight structures that arose as a result of Eskom’s debt relief arrangement.

Need your news quickly? Watch daily News in a minute videos from The South African YouTube page for all that you really need to know! Looking for a shortcut to The South African YouTube channel? Find all the videos here for a quick illustrative version of all the news you really need to know!

Enjoy a wide variety of videos from news, lifestyle, travel, sports, viral videos and lots more! There is always something to watch here! Why not follow us on Facebook, Instagram and TikTok while you’re at it. Get ALL the news you need to know on the go at your own convenience!


Shekhinah’s Real Name Leaves Mzansi Speechless

Popular singer Shekhinah Donell was introduced to South Africa through the popular singing talent competition Idols SA.


At the time, she was just a teenager with a passion for singing. However, she did not make it far in...LEARN MORE

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Local News

Law enforcement authorities continue to crack down on fraudulent dealings within embattled power utility Eskom. Four suspects have been released on bail after appearing...

Local News

Eskom says Stage 4 blackouts will be implemented until further notice. The power utility says this is due to a further breakdown in generating...

Local News

Power cuts are continuing from Sunday afternoon. Eskom has implemented stage 1 blackouts until 5 am on Monday. Thereafter stage 2 power cuts will...

Local News

The Black Business Council (BBC) has commended Eskom for improving the utility’s energy availability factor after six of its coal-fired power stations increased capacity...