Ramaphosa promises to recover stolen Eskom money and punish looters

Ramaphosa promises to recover stolen Eskom money and punish looters

- Ramaphosa has vowed to go after officials who stole money from Eskom

- He said government would get the money back

- He added that state looting was part of the reason for Eskom's current problems

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Cyril Ramaphosa has promised that government will take action against those responsible for state looting, especially at Eskom, saying that that the stolen money would be recovered.

He made the comments with addressing the Hellenic, Italian and Portuguese Alliance at a campaign event.

Ramaphosa added that this corruption had contributed to the current Eskom energy crisis.

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The president said that state looting had damaged Eskom, as had the poor design of the Kusile and Medupi power plants and the blow dealt to energy sources by Cyclone Idai. 

Indeed, Ramaphosa was deeply critical of Eskom, saying it was a threat to the economy and adding that he knew of no other company that had such high levels of debt. 

However, he asserted again that the power utility would not be privatised.

He claimed that the proposal to unbundle Eskom was a move aimed at raising capital rather than the first step toward privatisation, although he said government was hoping to work more closely with private companies to improve energy security moving forward, according to the Sunday Times.

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Despite Ramaphosa's promises, several groups, including Cosatu, have opposed the unbundling, claiming that it will lead to job losses and ultimately to Eskom being privatised.

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Source: Briefly.co.za

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