Eskom Profit Doubles Despite Falling Sales, R111B Municipal Arrears

Eskom's profit has doubled even as electricity sales volumes fell, but the utility simultaneously faces R111 billion in outstanding municipal debt and more than R45 billion in unrecognised losses from theft and arrears that exceed its reported profit. Analysts note that R36.8 billion in restated irregular expenditure further compounds the governance picture for Africa's largest power utility.