Energy expert Ted Blom says that no bailouts will assist Eskom if the operational structure of the company doesn't change.
Blom said that Eskom’s current board has failed at coming up with a viable turnaround strategy.
Eskom is in dire financial constraints with the government expected to spend R69 billion over the next three years to keep it operational.“The current board hasn’t managed to do it in a year-and-a-half and incapable of doing that. If that is not done immediately, this could mean the end of Eskom after almost 100 years.”
Blom said that the failure by Eskom to receive a loan from the China Development Bank as planned is proof that the parastatal is set to collapse.
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