Eskom exempted from reporting irregular expenditure

There’s been confirmation that the finance minister Enoch Godongwana has now granted Eskom an exemption from having to report its irregular, fruitless and wasteful expenditure. Under the public finance management act state owned entities have to report money that they do not spend properly.
Tune into Newzroom Afrika DStv channel 405 for more.

[@notdamomma8884]

Corruption is now allowed and condoned

[@neermalapillay8016]

Not a surprise people on the ground wiser than politicians especially anc

[@ooras]

Looting....... Some culture s don't know right from wrong.

[@lawrencechesworth5902]

Unfortunately most of S.A. has to pay for the services of Eskom..... So I am one of those people and I want to know what Eskom does with my money ..

[@harley1450ification]

Very troubling. This SOE will even more vulnerable. The new Minister of Electricity is questionable and we can no longer trust him.

[@nthabibotsi9855]

This remind me of the book called "Animal Farm"😢

[@camagulivumile9168]

What kind of nonsense is this???😮😮😮

[@guyGoes-xw6sp]

Insane decision, admitting they cannot handle the obvious disasters inside Eskom, rather muddle along without anyone knowing. Rubbish.

[@Gismho]

The nation's Premier Crime Syndicate at it again!! But note how the head honcho, who is nowhere to be seen, if still "fighting corrution" on all fronts.

[@andileandile993]

The Exemption of Eskom from disclosing irregular, fruitless and wasteful expenditures in the annual financial statements as required by section 55(2)(b)(i) of the PFMA, and treasury regulation 28.2.1, up to 2025 financial year does not sound good at all. Yes, the Minister of Finance in terms of section 92 of the PFMA has the prerogative to grant such an exemption but I think it needs to be challenged legally.
Here is my reasoning.
What the public should know is that this exemption means that irregular, fruitless and wasteful expenditures discovered by Eskom will still have to be reported to Treasury in terms of section 38 of PFMA. The difference brought by the exemption is that Eskom will not disclose the irregular, fruitless and wasteful expenditures on the Financial Statements which means that they will not be audited by the Auditor General and express any opinion on them their accuracy, completeness or otherwise. This is a red flag on public accountability.
So that you will make your judgement, here is an extract of section 55(2)(b)(i) of the PFMA on which Eskom has been granted an exemption:
55. Annual report and financial statements.-
(2) The annual report and financial statements referred to in subsection (1) (d) must-
(a) fairly present the state of affairs of the public entity, its business, its financial results, its performance against predetermined objectives and its financial position as at the end of the financial year concerned;
(b) include particulars of
(i) any material losses through criminal conduct and any irregular expenditure and fruitless and wasteful expenditure that occurred during the financial year:

[@harley1450ification]

Thank you for unpacking this for us. It's troubling and shocking. Transnet's exemption is also being ventilated now, and look how they ended up. It's unacceptable.

[@saamstaan6540]

Looting has no limits.

[@ndyebomahlati2280]

ANC gangsterism or cult killing South Africa

[@ayandaatlehangmnqabashe7732]

Uhh🤭🐀

[@jamesmcarthur3306]

Scandal! No sense of accountability in this bunch