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Eskom confident it can pay salaries & continue operations

Last week, Eskom postponed the release of its annual financial results, saying it was still meeting with role players.

Eskom's Megawatt Park offices in Sunninghill. Picture: EWN.

JOHANNESBURG - Eskom maintains that it’s not cash strapped and will be able to continue operations and paying salaries.

The Sunday Times reported the power utility is sitting on its last R20 billion, and still wants to pay bonuses to axed CEO Brian Molefe and suspended acting CEO Matshela Koko.

Last week, Eskom postponed the release of its annual financial results, saying it was still meeting with role players.

The Sunday Times has reported that Eskom is almost broke and if something isn't done urgently it won't be able to pay salaries in November.

The power utility has refuted these allegations and says it’s in a better financial situation compared to three years ago.

Eskom's Khulu Phasiwe explains: “Eskom’s liquidity has improved. As a result, we have in the current financial year been able to raise 77% for our requirements of the year. We’re confident we will be able to raise the remainder before the end of the current financial year.”

Eskom says bonuses are performance based and will be discussed during the release of its annual financial results this Wednesday.

(Edited by Shimoney Regter)

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