The move to grant Eskom financial exemptions has been met with outrage over lack of transparency in how taxpayers' money was spent and potential corruption.If you have already registered or subscribed, please sign in to continue.
The move to grant Eskom financial exemptions has been met with outrage over lack of transparency in how taxpayers' money was spent and potential corruption...If you have already registered or subscribed, please sign in to continue.More likely to boost more theft... just wait and see... we'll be at stage 8 again while they lined their pockets again!
Please, SA, let's not be gullible fools! We actually know what's going on here. We're watching it happen. Its happening right before our eyes. We have a front-row seat to the robbery. For God's sake, just this one time, let's stop the thieves!
We know of an absolute certainty, that the thieves of the ANC collude. One dept. steals, another looks away; one 'investigates', another covers up. The right hand washes the left . They know that ESKOM is dying. This is their last desperate grab for the money. Stop, thief!
The decision of the National Treasury is unconstitutional. It MUST be declared to be so urgently, before one more cent slips out of sight. How can the National Treasury override a law?
This makes no sense. But explains a lot.
People must be educated to rid us of this!
Their Accountants, Auditors should all be stripped. Any Accounting Firm. You cannot make up your own rules.
ANC needs funds for next year's elections. Eskom will provide.
Maybe the syndicates are also operating in or influencing National Treasury...🤔
Massive rush to protect the criminals... ANC fighting hard to cover there tracks in the wake of de Reuter whistle
What a nonsense
The most dumb excuse I have ever heard. Bullshit at its best to hide the corruption.
Oh boy, caught in the act, and the excuses are going to get worse and worse.... I still want a answer on why Eskom can buy 1 toilet roll for R100!
Absolute hogwash. This decision is purely to hide the corruption and looting of ministers in the ANC government. It's got nothing to do with boosting borrowing powers.
And who will lend to a grey company which doctors its financials?
Kk story man! It’s so they can plunder eskom to death
It will have the complete opposite effect from what they envisage. Any lender bamboozled by this is a kickback operator.
Ya to be able to steal more. Is somebody going to do something to or about this open looting?
Borrow from who? Taxpayers bailouts Its just to cover up cader capture and looting
So much for transparency. And this is how the corrupt anc continues to loot and pillage South Africa.
Yeah, right!
Superior logic from a desperate MYANC 🤦🏻🤦🏻🤦🏻😤 BS....they want to eat unhindered! VoetsekANC2024🗳️
Kaaaaaaaaak
Non disclosure?
Oh sure. If twitter knows, the potential investors will know and run.... and run far away.
Eskom_SA As if any financier/investor would want to lend or finance Eskom if they hide irregular expenditure, poor finance controls or corrupt activities.
Eskom🕯& the obv 'guilty as hell'😳 ANC bigwigs🤑(maybe GwedeM😤,DDMabuza😡, Ramaphoski🙉who knows?),are scrambling🗣& falling over each others' feet👣trying to quickly🫣hide the culprits🥵that AdeRuyter😊spoke of & will eXpose⁉️🤬👍..'to boost its borrowing powers?'🤣😝🤪yuk!🤮
Talk me through this. Legislation to hide mismanagement, fraud and corruption with the goal of making Eskom seem more credit worthy? That sounds like fraud. What am I missing?
They must think we are all stupid!
Bullshit
Basically this is just another way of trying to cover up looting the entity
A political spin to technical questions. Break the fundamental law of Finance accountability inorder to fix something which has failed accountability. Eskom problems are accountability problems, how will removing them going to solve anything
Ummmm what? How do they justify that? Why don't they say it like it is? Can't report irregularities as that would cripple the feeding trough.
That sounds like an open door to money laundering or tender paybacks
So you basically admitting to cooking the books to look more credible!? VoetsekANC FokkofEskom
So the Financials will be fraudulent?
Ag tos man !
Falsifying financial statements to secure a loan is fraud right? Or does our government believe committing fraud is okay.
Kak man
Is it not fraud
So if its not a Financial institution thats going to be a lender then is there a rich Country perhaps that will be funding something Is there a rich funder in the BRICS and mortar We seem to be selling our souls atm…..😡😡😡😡
Eskom bonds are already junk along with government and other parastatal bonds. Neither can u fool Moody's, S&P and Fitch. Wait for it...
Basically we are told there's so much corruption don't need to let it out because we need to borrow money ...but you invite de Ruiter to Parliament....umthondo ngetshe....
Let's steal more
Are lenders easily fooled? Don’t think so. African logic is baffling.
lies - it's about looting and stealing further
bull
Borrow so the ANC can steal more!
What utter BS! This is to hide all their corruption.
We see you !
This is pure crap
💩story, cover up for ANC corruption and looting.
Who would borrow money to to an organization, that can make up its own accounting rules? Or a business, selling something everyone wants, with no competition, and cant show a profit? 🤣🤣🤣🤡🤡🤡 voetsekeff voetsekANC voetsek Eskom_SA
One of the most corrupt entities in the world is allowed to hide corrupt practices. Does the ANC think that the big lenders haven't heard of Eskom's thievery.
Because then the lenders cant see how much you are stealing
'Gives us your money! But we're not going to tell you how it's used (or 'got lost')...'
Please name the financial intitutions who will lend to an entity where they know irregularies are going on?
If info disclosed in 'AFS' will render it qualified and affect bankability and borrowing decisions or cost of borrowing, and that same info will be disclosed in the 'Report', will astute lenders not look at ALL the info available? Or will the 'Report' be 'In Camera Top Secret'?
My head going around in circles
MinistryOfLoot It is BS. It is to hide corruption. They have no respect for the citizens.
In other words get Eskom into big borrowing, back to where it's been for over 5 years, suffocating under a pool of bad debt, NT take over 100s in billions of it's debt again in 5 years, 2 fund collapse of Eskom, except it will no further be made public under some sinister idea.
Now that borrowers know this, will they give them their money?
My goodness!! Havnt they borrowed enough!!! IMF, CHINA, middle east! We will owe the whole flipping planet at this rate! Anc are selling South Africa off and we will be slaves for many generations.
What a load of bull! Who would still lend them money? Cyril out with the looting / begging bowl again?
Hiding the criminal elements to boost borrowing.....this logic does not make sense. The fact that you are hiding it will decrease you ability to procure funding....
It certainly looks as if Andre de Ruyter has hit raw nerve with his disclosures regarding corruption,fraud,theft,maladministration,irregular expenditures.
That is pure BS, hide what you actually spending money on so that those you approach for funding can't see all the wasted looted money is plain dishonesty.
What a load of hogwash.Which reputable financial institution in their right mind would lend finance to an entity that has hidden expenditure irregularities.
Boost borrowing Boost looting of funds by comrades & their families & associates. Typical mafia moves State of Emergency is a wonderful thing in the hands of the corrupt. South Africa, the Mafia state
Do you think the rating agencies will see it in this light? Does treasury think people are stupid? Watch this space. More government guarantees from a bankrupt, corrupt, failed government.
What a nonsensical excuse
Borrow to loot!
I don’t follow this logic, borrowing whether public or private sector depends on the ability to repay. Sound financial reporting underpins the risk to creditors re creditworthiness. How do investors determine Eskom’s financial risk in the absence of credible audit reports? BS!!
This is one of the strangest defences I’ve ever stumbled across 😂
How on earth does hiding their corrupt dealings improve their ability to borrow even more money, seeing they have already borrowed enough to put a small country to shame. And they struggle to pay it back and keep the lights on....
This is based on the belief that there is no such thing as asymmetrical information. Lenders are well informed and will see through this, and then demand a premium. Lenders are not blacks....they will do their due diligence.
Bullshit, it is to make sure enough money get stolen for the ANC election campaign.