Cosatu welcomes withdrawal of Eskom’s exemption from financial reporting

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The Congress of South African Trade Unions (Cosatu) has welcomed Finance Minister Enoch Godongwana’s withdrawal of National Treasury’s decision to exempt Eskom from comprehensively reporting on irregular, fruitless, and wasteful expenditure in its financial statements.

Godongwana said the Eskom board needs to do more to reduce the scope of fraud and corruption before such an exemption can be considered.

Cosatu’s Parliamentary Coordinator, Matthew Parks says, “It’s positive that the government said perhaps this was not the best idea. So the withdrawal is a good thing. For us, it didn’t make sense. We heard the arguments of government that if we disclose these things in the annual financial statements of Eskom, it makes it difficult for Eskom to borrow money and they will look bad. All of that was true but the reality was people were stealing money at Eskom. If you want to make it look attractive, stop people from stealing.”

Full interview with Matthew Parks: