
Related
Top stories


Marketing & Media#Loeries2025 and City of Cape Town drive creative industry
Danette Breitenbach 14 hours




More news






















Energy & Mining
$4,000 an ounce: Gold price hits a record



Now, Eskom group chief executive Dan Marokane revealed that the profits will be ploughed back into the SOE.
“The focused and ongoing efforts of Eskom’s 42,000 employees in delivering the turnaround strategy have produced tangible results.
“We are reinvesting profits back into national assets.
"Over the next five years, with continued rigorous focus, we will invest more than R320bn in sustaining and expanding our infrastructure for the long-term benefit of the nation.
"In a break from the past, we are accelerating the review and restructuring of our cost base.
“This is being done within the framework of the expected future single-digit tariff increases allowed by Nersa (National Energy Regulator of South Africa), as we drive efficiencies and take control of the factors within our control to address the affordability of electricity,” Marokane said.
He highlighted Eskom’s “vital” importance to the country’s economic growth prospects and job creation.
“According to a report by the Council for Scientific and Industrial Research, titled Utility-scale Power Generation Statistics in South Africa, published on 17 March 2025, the South African economy lost up to R2.8trn due to load shedding in the 2023 calendar year.
“In 2024, that figure was reduced by 83% to R481bn,” Marokane noted.
The power utility presented its group annual results for the 2025 financial year ended 31 March 2025 at Megawatt Park.
Key notes from the announcement include:
Eskom board chairperson Mteto Nyati reflected on the power utility’s improvement since the “crisis” the board found three years ago.
“Eskom is increasingly a sustainable, investable company ready to compete in a liberalised, competitive energy market, and is very different from the crisis that in October 2022 the current Eskom board inherited when they took office.
“The comprehensive diagnostic review at the time reaffirmed Eskom’s strategic direction and highlighted the need to recalibrate execution timelines and intensify delivery against strategic objectives that we have supported the executive committee to deliver.
"The board has remained utterly focused on using public money efficiently, and early interventions in governance and controls have delivered early measurable improvements in the fight against crime, fraud and corruption.
“Vending fraud as a result of our outdated online vending system is now reduced to lower levels, proving that a focus on stronger systems, smarter technology, and decisive action is protecting revenue and ensuring secure, reliable electricity for all South Africans, and we will continue to intensify our focus in this area,” Nyati said.
SAnews.gov.za is a South African government news service, published by the Government Communication and Information System (GCIS). SAnews.gov.za (formerly BuaNews) was established to provide quick and easy access to articles and feature stories aimed at keeping the public informed about the implementation of government mandates.
Go to: http://www.sanews.gov.za