NUM has noted the release of Eskom Integrated Results yesterday

NUM Press Statement,   20 July  2017

NUM has noted the release of Eskom Integrated Results yesterday

The NUM has noted the release of the Eskom integrated Results which reflects an EBITDA of R38 billion, representing an increase of 14, 4%. However, the net profit has declined from R4.6 billion to R1 billion. This indicates that Eskom is galloping into financial distress.

"The Eskom response to this poor performance is to embark on cost cutting measures, always directed at our members and other employees. We call upon the board chairperson to convene an urgent meeting with the NUM to discuss the crisis," said Paris Mashego, NUM Energy Sector Coordinator.

While we welcome Eskom's decision to take disciplinary action against former Eskom acting CEO Matshela Koko, who was suspended earlier this year after allegations of a possible conflict of interest involving his stepdaughter‚ who was a director of a company that scored R1 billion in business from Eskom, we demand that;

· All corrupt activities within Eskom must be exposed and thoroughly investigated by an independent judge appointed by the Minister.

· All affected directors allegedly involved in corruption in the current and previous board must resign

The minister must convene a forum for all stakeholders to discuss the management and control of all state-owned enterprises.

For more information, please contact:

Paris Mashego: NUM Energy Sector Coordinator: 079 517 1758

The National Union of Mineworkers
7 Rissik Street.
Cnr Frederick Johannesburg
Tel: 011 377 2111 Cell: 083 809 3257
Twitter: @Num_Media

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