• About
Saturday, June 21, 2025
iReport South Africa
  • Home
  • Latest News
  • Politics
  • ENTERTAINMENT
  • Lifestyle
  • Crime
  • SPORTS
  • IREPORT TV
No Result
View All Result
  • Home
  • Latest News
  • Politics
  • ENTERTAINMENT
  • Lifestyle
  • Crime
  • SPORTS
  • IREPORT TV
No Result
View All Result
iReport South Africa
No Result
View All Result
Home News Business

CONFIRMED: R254 billion to be spent on Eskom as annual budget

September 11, 2024
0
CONFIRMED: R254 billion to be spent on Eskom as annual budget
0
SHARES
Share on FacebookShare on Twitter



 

Last week, the National Assembly made a significant decision by passing the Eskom Debt Relief draft Bill, which is valued at a staggering R254 billion. The bill received an overwhelming 198 votes in favor of its approval, while 23 votes opposed it. The government believes that this substantial financial injection will play a crucial role in revitalizing Eskom, the nation’s power utility, and ensuring an adequate supply of electricity for the country.

However, there are concerns among the public that only a portion of this amount will truly benefit Eskom, with over 70% potentially being siphoned off by corrupt individuals for personal gain, such as extravagant bonuses, luxury cars, and lavish residential upgrades. The fear of taxpayers’ money being misappropriated is palpable, as exemplified by the absurd notion of spending one million Rand on a toothbrush.


Reports suggest that the primary objective of the Eskom Debt Relief Bill is to secure funding from the National Revenue Fund to alleviate Eskom’s mounting debt. Upon the bill’s successful passage, Acting Finance Minister Mondli Gungubele expressed the government’s belief that this debt relief arrangement for Eskom will significantly alleviate the ongoing energy crisis. In line with this commitment, the minister of finance proposed a comprehensive debt relief plan for Eskom, amounting to approximately R254 billion, after extensive technical work and consultation during the 2023 budget speech.

This proposed arrangement encompasses two key components. The first component entails allocating R1.84 billion, which represents Eskom’s complete debt settlement requirement, in three installments over the medium term. The second component involves the direct takeover of up to R70 billion of Eskom’s loan portfolio in the 2025/2026 fiscal year.


However, to ensure the responsible and effective utilization of these funds, the government pledges to impose stringent conditions on Eskom. These conditions are intended to ensure that the envisioned financial injection is channeled towards the necessary improvements and reforms within Eskom, rather than being wasted or misused.

The Eskom Debt Relief Bill’s passage through the National Assembly signifies a significant step towards addressing Eskom’s financial challenges and revitalizing the power utility. However, the public remains vigilant in holding the government accountable for ensuring that these funds are allocated appropriately and transparently.


With the hope of restoring Eskom to its former glory and resolving the energy crisis, it is imperative that the government rigorously monitors the implementation of the debt relief plan and takes decisive action against any corruption or mismanagement that may hinder its intended purpose.

Previous Post

“The ANC Is Corrupt, I Will Expose and Trash All Ministers” Niehaus Drops Bombshell

Next Post

Take a look at the pictures of Ex-Kaizer Chiefs defender Tefu Mashamaite

iReport SA News

iReport South Africa News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of iReport South Africa News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by iReport South Africa News. iReport South Africa News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. iReport South Africa News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address reports@ireportsouthafrica.co.za and/or report the article using the available reporting functionality built into our Platform.

Related Posts

Trump Unveils Ambitious “Golden Dome” Missile Defense Plan, Aims for Completion Before Term Ends

Trump Unveils Ambitious “Golden Dome” Missile Defense Plan, Aims for Completion Before Term Ends

May 25, 2025
Alleged Founders of the MK party has been Revealed, See Who they Are

Alleged Founders of the MK party has been Revealed, See Who they Are

September 19, 2024
Poland vs South Africa defense forces: Which country has a better army ?

Poland vs South Africa defense forces: Which country has a better army ?

September 15, 2024
Zuma and his Mk party under investigation immediately they was caught with MK uniform robbing.

Zuma and his Mk party under investigation immediately they was caught with MK uniform robbing.

September 19, 2024
‘Are you done, mummy?’ President Ramaphosa Shares Heartwarming Moment with First Lady in Unscripted Call

‘Are you done, mummy?’ President Ramaphosa Shares Heartwarming Moment with First Lady in Unscripted Call

October 28, 2024
Will the EFF Allow this? Ramaphosa has Suggested his Preferred Johannesburg Mayor.

Will the EFF Allow this? Ramaphosa has Suggested his Preferred Johannesburg Mayor.

September 16, 2024
Next Post
Take a look at the pictures of Ex-Kaizer Chiefs defender Tefu Mashamaite

Take a look at the pictures of Ex-Kaizer Chiefs defender Tefu Mashamaite

  • Trending
  • Comments
  • Latest
Bad News for everyone living in South Africa this morning As Nigerian Threaten To Take Over SA

Bad News for everyone living in South Africa this morning As Nigerian Threaten To Take Over SA

September 11, 2024
Look what Dr Nandipha’s mother spotted doing in court yesterday

Look what Dr Nandipha’s mother spotted doing in court yesterday

September 10, 2024
South Africa is finished|| Look over 100 illegal foreigner were caught bringing into the country

South Africa is finished|| Look over 100 illegal foreigner were caught bringing into the country

September 10, 2024
Unexpected || Hawks To Arrest ANC Heavyweight Over R680 000 Alleged Money Laundering

Unexpected || Hawks To Arrest ANC Heavyweight Over R680 000 Alleged Money Laundering

September 11, 2024

Big Nuz – Ngeke Wins Ukhozi FM Top 10 Cross Over Song Of The Year 2022 to 2023

0
Watch: Babes Wodumo Performing Ngeke at The Last Dance 2022 | Song of The Year

Watch: Babes Wodumo Performing Ngeke at The Last Dance 2022 | Song of The Year

0
Some people are angry on Babes Wodumo, following how She’s mourning her husband, take a look

Some people are angry on Babes Wodumo, following how She’s mourning her husband, take a look

0
Enhle Mbali exposed for ‘willing to be in a polygamous marriage’

Enhle Mbali exposed for ‘willing to be in a polygamous marriage’

0
Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

June 19, 2025
ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

June 19, 2025
Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

June 19, 2025
ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

June 19, 2025

Recent News

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

June 19, 2025
ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

June 19, 2025
Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

June 19, 2025
ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

June 19, 2025
iReport South Africa

iReport South Africa is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of iReport South Africa News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by iReport South Africa.

If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us and/or report the article using the available reporting functionality built into our Platform.

Follow Us

Recent News

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

June 19, 2025
ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

June 19, 2025
Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

June 19, 2025
ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

June 19, 2025
  • About

© 2017 - 2023 iReport South Africa

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • HOME
  • LATEST NEWS
  • POLITICS
  • ENTERTAINMENT
  • LIFESTYLE
  • CRIME
  • SPORTS
  • BUSINESS
  • IREPORT TV
  • Login

© 2017 - 2023 iReport South Africa

iReport South Africa

iReport South Africa is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of iReport South Africa News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by iReport South Africa.

If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us and/or report the article using the available reporting functionality built into our Platform.

Follow Us

Recent News

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

Shivambu Poised to Unveil ‘Mayibuye iAfrica’ at Midrand Media Briefing

June 19, 2025
ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

ANC Gauteng Disbands Johannesburg Leadership, Paves Way for Renewal

June 19, 2025
Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

Podcast Star Sol Phenduka Stuns Fans With Fatherhood Revelation

June 19, 2025
ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

ANC Youth League Calls for Age Limits in Leadership, Sparking Party Debate

June 19, 2025
  • About

© 2017 - 2023 iReport South Africa

No Result
View All Result
  • HOME
  • LATEST NEWS
  • POLITICS
  • ENTERTAINMENT
  • LIFESTYLE
  • CRIME
  • SPORTS
  • BUSINESS
  • IREPORT TV
  • Login

© 2017 - 2023 iReport South Africa

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • HOME
  • LATEST NEWS
  • POLITICS
  • ENTERTAINMENT
  • LIFESTYLE
  • CRIME
  • SPORTS
  • BUSINESS
  • IREPORT TV
  • Login

© 2017 - 2023 iReport South Africa