Mabuza grilled by MPs on Eskom, SAA’s financial woes
He’s been asked how government plans to turnaround the parastatals which are billions of rand in debt.
He was asked how government planned to turnaround the parastatals which are billions of rand in debt.
Mabuza was responding to oral questions from members of the National Assembly.
On Eskom, Mabuza said the power utility could not be allowed to fail, saying the company was on the right track.
Eskom has recorded a more than R20 billion loss in the current financial year and has debt of over R400 billion.
“Given the strategic role and importance of Eskom to the economy, failure to turn Eskom around is not an option.”
On SAA, which is receiving a R10.5 billion bailout, Mabuza said the company was strategic and needed government assistance.
“Funding of SAA should be understood in line preserving strategic state instruments for transformation, for growth, for development and for service delivery and employment creation.”
LISTEN: Technical experts flown in to help Eskom and German businesses in SA