Auditors ask if S. Africa's Eskom can keep going
STORY: Troubled South African utility Eskom could struggle to keep operating.
That’s according to its auditors.
Eskom says Deloitte & Touche are worried there is “material uncertainty” over its future as a going concern.
They say the auditing firm has identified “various irregularities” in previous financial periods.
The warning came as Eskom reported further losses for the year to the end of March.
Its deficit came to 12.3 billion rand - or about $719 million.
The firm forecast an even bigger loss for the following financial year.
Eskom is saddled with an ageing fleet of coal-fired power stations, and a mountain of debt.
That’s left it struggling to meet demand for electricity for years.
2022 has seen unprecedented power cuts, sparking public anger and damaging businesses.
Recent outages have seen most South Africans go without power for hours every day.
The utility is currently searching for its 12th new boss in just over a decade.
Former chief executive Andre de Ruyter quit last week, saying a lack of political support had made his position “untenable”.