ESKOM HOLDINGS SOC LIMITED - Eskom - Exemption on Annual Reporting of Irregular, Fruitless and Wasteful Expenses

Eskom - Exemption on Annual Reporting of Irregular, Fruitless and Wasteful Expenses

Eskom Holdings SOC Limited
(Registration No. 2002/015527/30)
JSE alpha code: BIESKM
(“Eskom”)


ESKOM: EXEMPTION ON ANNUAL REPORTING OF IRREGULAR, FRUITLESS AND WASTEFUL
EXPENSES


Noteholders are advised that on 31 March 2023, Eskom received notice of exemption on
certain Public Finance Management Act (“PFMA”) disclosure requirements from National
Treasury (the “Exemption”)

With the Exemption, irregular, fruitless and wasteful expenses will now be reported fully in
Eskom’s annual report, as opposed to its annual financial statements. The annual report is
tabled by the Minister of Department of Public Enterprises in Parliament.

Eskom will continue to respect and co-operate with supervisory authorities including the
Minister of Public Enterprises as its Executive Authority, the National Treasury, the Auditor-
General of South Africa, Parliament and other relevant ministries.

It should further be noted that Eskom has made positive strides in the past three years to
establish systems, procedures, checks and balances designed to reduce the extent and risk of
fraud, corruption and irregular expenditure. The 2021/22 audited financial statements show
a marked reduction in the incidence of irregular expenditure that originated in that year.
Although more work is required, the systems and mechanisms implemented to address the
causes of historical issues have proven largely successful.


Johannesburg
4 April 2023

Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 04-04-2023 03:14:00
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