Friday, March 24, 2006

Power Payday

If there’s a five-letter expletive in Cape Town these days, it’s Eskom.With just one exception, Eskom’s executive directors, who earned R73-million last year, are the highest paid in the country.

The city has racked up losses of hundreds of millions of rands in power cuts and load shedding and faces a bleak winter as the country runs out of electricity capacity.

There are even suggestions the country’s targeted 6% economic growth is imperilled through mismanagement by the primary protagonist, the power utility, or its shareholder, the government. Eskom’s senior management has excelled in one area, though -- paying itself extravagant salaries. M&G Business/

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