Deputy President Cyril Ramaphosa says when it comes to Eskom “we are not sitting on our backsides, we are going to address these problems”.
Answering questions in parliament yesterday, Ramaphosa was upbeat about prospects at Eskom despite the country facing growth-shaving load-shedding for the next 18 to 24 months.
“We are going to see some good things coming out of Eskom, that I promise you,” he said.
His positivity was mainly focused around the appointment of acting CEO Brian Molefe who he said was a “shot in the arm” for the ailing state-owned enterprise.
“I have seen how he works and functions,” he said.
In addition, he said, government was securing power through signing contracts with independent power producers and were trying to manage electricity usage from the demand-side.
Ramaphosa said bills, one to enable the appropriation of R23-billion and the second to allow for the conversion of a R60-billion loan into equity, would create liquidity for Eskom.
Finance Minister Nhlanhla Nene said the bills, tabled last week, would provide “immediate and short-term support” for Eskom.
Nene said Eskom “turned a corner and is in better shape than in the past”.
Addressing other ailing parastatals, Ramaphosa said SAA’s 90-day action plan had restored its status as a going concern, and cost-savings of R1.2-billion had been identified.
He said similarly, the South African Post Office was also currently in turn-around.
But, he said, not all state owned enterprises were sick. He cited Transnet and the South African Special Risks Insurance Regulator as top performers.
Plus, he said, state-owned enterprises were valuable investment vehicles which pumped billions into the South African economy and helped mitigate the effects of the 2008 world financial crisis.
He also said those running parastatals needed support, saying there was an incorrect view they were “ill-equipped to do so”.
But he admitted golden handshakes were part of the “due process” involved in “getting rid of people”. He said they may be a necessary evil.
“We think in the end when you are trying to secure a better future for the company, it may be worth going down this route,” he said.
Most recently, Eskom CEO Tshediso Matona received a golden handshake.
Meanwhile, Ramaphosa also said the South African National Roads Agency Limited owed around R20-billion in various bonds for its Gauteng freeway improvement project.
This would be paid for by a “tripartite” grouping of national and Gauteng government as well as road users.
He told the National Assembly as a result of the new dispensation which lowered toll tariffs for Gauteng road users, there had been an “uptick” in Sanral finances.
Ramaphosa positive Eskom crisis will be reversed
Answering questions in parliament yesterday, Ramaphosa was upbeat about prospects at Eskom despite the country facing growth-shaving load-shedding for the next 18 to 24 months.
“We are going to see some good things coming out of Eskom, that I promise you,” he said.
His positivity was mainly focused around the appointment of acting CEO Brian Molefe who he said was a “shot in the arm” for the ailing state-owned enterprise.
“I have seen how he works and functions,” he said.
In addition, he said, government was securing power through signing contracts with independent power producers and were trying to manage electricity usage from the demand-side.
Ramaphosa said bills, one to enable the appropriation of R23-billion and the second to allow for the conversion of a R60-billion loan into equity, would create liquidity for Eskom.
Finance Minister Nhlanhla Nene said the bills, tabled last week, would provide “immediate and short-term support” for Eskom.
Nene said Eskom “turned a corner and is in better shape than in the past”.
Addressing other ailing parastatals, Ramaphosa said SAA’s 90-day action plan had restored its status as a going concern, and cost-savings of R1.2-billion had been identified.
He said similarly, the South African Post Office was also currently in turn-around.
But, he said, not all state owned enterprises were sick. He cited Transnet and the South African Special Risks Insurance Regulator as top performers.
Plus, he said, state-owned enterprises were valuable investment vehicles which pumped billions into the South African economy and helped mitigate the effects of the 2008 world financial crisis.
He also said those running parastatals needed support, saying there was an incorrect view they were “ill-equipped to do so”.
But he admitted golden handshakes were part of the “due process” involved in “getting rid of people”. He said they may be a necessary evil.
“We think in the end when you are trying to secure a better future for the company, it may be worth going down this route,” he said.
Most recently, Eskom CEO Tshediso Matona received a golden handshake.
Meanwhile, Ramaphosa also said the South African National Roads Agency Limited owed around R20-billion in various bonds for its Gauteng freeway improvement project.
This would be paid for by a “tripartite” grouping of national and Gauteng government as well as road users.
He told the National Assembly as a result of the new dispensation which lowered toll tariffs for Gauteng road users, there had been an “uptick” in Sanral finances.
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