The task team will report to President Cyril Ramaphosa.
Eskom’s new board was appointed in February this year and was tasked with handling strategy and governance issues at the power utility. The task team will be looking into operational issues.
“It would have made sense for the task team to fit into the current structure” by reporting to the current board said Sithole.In his tweets, Sithole detailed that Eskom has R569-billion in liabilities and, with R93-billion due in 12 months, he believes that the entity does not have the wherewithal to meet its current liabilities.
Eskom’s assets are valued at R739-billion as of March this year. According to Sithole, Eskom has a funding issue.
Of the assets that could be turned into cash within 12 months, there are only R72-billion of such assets, which Sithole said would leave Eskom short by R21-billion.