ESKOM’S DIRTY LITTLE SECRET: 150 DAYS OF LOOTING, NOT "LOAD SHEDDING" FREE
South Africa has just celebrated 150 consecutive days of uninterrupted looting, err, we mean, “load shedding” free existence, courtesy of Eskom’s new “recovery plan” – a euphemism for government-sanctioned plundering.
This monumental achievement marks a dramatic turnaround from over a year ago when South Africa was ravaged by record load shedding, causing daily life to come to a grinding halt, food prices to skyrocket, and investor confidence to plummet.
But don’t be fooled, this “recovery” is just a smokescreen for the government’s real agenda: to line the pockets of the elite at the expense of the average citizen. The state-owned power utility has been given a blank check to print money, and it’s using it to fund its own lavish spending habits.
So, what’s behind this “miraculous” turnaround? It’s not hard to see: the appointment of Kgosientsho Ramokgopa as the country’s first-ever electricity minister, a role created specifically to facilitate the looting of the electricity sector. And let’s not forget the R250-billion “bailout” the government has pumped into Eskom – just a nice little gift to the utility’s corrupt officials.
RAND STRONGER THAN EVER (THANKS TO ESKOM’S LOOTING)
The rand has responded magnificently to this “recovery”, gaining 3.7% in the year to date and trading at around R17.70/$. And what’s driving this surge? You guessed it: the government’s newfound willingness to print money and give it away to its cronies.
So, the next time you see the rand strengthening, just remember: it’s not because of the government’s fiscally responsible policies – it’s because of Eskom’s ability to pilfer billions from the treasury and line its own pockets.
DON’T MISS:
Eskom’s turnaround is no ‘miracle’: Mteto Nyati (but it’s definitely a looting spree)
