Friday, 6
July 2018: Eskom notes the article written in today’s Business Day titled
“Struggling Eskom splurges on execs”.
Eskom has
stated that its focus is on maximising revenue and reducing costs, with a view
to enhancing its financial sustainability. In line with this, Eskom has taken
difficult decisions such as reducing capital expenditure from R55bn to R45bn, a
saving of R10bn per annum. Eskom has further reduced operating costs to R132bn,
a 5% decrease between FY2017 and FY2018.
Phakamani
Hadebe, Eskom Group Chief Executive says, “I want to emphasise that reducing
costs whilst maximising revenue is key to our strategy. We have identified new
revenue streams that will deliver an additional R1.5bn by the end of the
financial year. Whilst this indicates the right trajectory, as Eskom management
we acknowledge that this is not adequate. We have since identified other
measures that will further reduce operating costs, included here are employee
productivity levels of which employee benefits is part. This is being discussed
at the highest decision-making levels of Eskom”.
ENDS