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South Africa – Kiss Eskom goodbye

Kiss Eskom goodbye
Kiss Eskom goodbye

By Daily Investor


Efficient Group chief economist Dawie Roodt predicts that Eskom would follow the same path as South African Airways (SAA) and the South African Post Office (SAPO) and “simply come to an end”.

“Eskom is completely bankrupt. It has been operationally and financially run into the ground. It does not work anymore,” Roodt told delegates at PIF 2023.

He explained that around 40,000 people work at Eskom with an average salary of R70,000 per month.

“Last year, Eskom employees received a 7% increase. It is irresponsible. These workers are already overpaid,” he said.

Roodt said the government is trying to run things they cannot run, which causes them to collapse. Good examples are SAA, Denel, and the SAPO.

Roodt previously explained that SAA had ten turnaround plans, and they all failed. “The company was ultimately run into the ground financially and operationally.”

“The same is currently happening to the South African Post Office. It is simply coming to an end. It is under provisional liquidation, and it is also just dying.”

He predicted that Eskom would go the same route as SAA. “It simply came to an end. It just died,” he said…


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