Eskom refutes allegations that it is ‘broke’
Sunday, 16 July 2017: Eskom has noted weekend media reports concerning its financial sustainability. Due to limitations around disclosing financial information before the official announcement, which is scheduled for Wednesday 19 July 2017, Eskom is not in a position to respond comprehensively to the specific issues raised at this stage. Having said this, Eskom refutes the notion that it is facing a cash crisis, and that it has only enough cash to last for the next three months.
External auditors have confirmed Eskom as a going concern, and as a result the company sees these reports as being inaccurate and misleading.
It is important to reiterate that Eskom is not facing any liquidity challenges, and that the company is confident that it will maintain sufficient liquidity to support its operations.
Importantly, Eskom wishes to highlight the following:
- The 2014/15 annual financial results stated an emphasis of matter in relation to its going concern, which was addressed and subsequently removed in the 2015/16 financial year.