Irregularities discovered in Eskom, stalls result release

Phakamani Hadebe

Eskom, South Africa’s government-owned power provider might not present results as expected due to irregularities flagged by the company’s auditors.

External auditors said they raised “two reportable irregularities” with their regulatory body related to an obscure company and the reinstatement of former chief executive Brian Molefe, who has since left under a cloud.

Eskom said it has postponed annual results presentation scheduled for Tuesday, did not provide details of the irregularities but said in a statement that it “had 30 days to take appropriate steps to mitigate the risks identified.”