Eskom selling off its properties at ‘garbage sale’ prices

Eskom is selling off property at discount prices all over the country. Sources have confirmed that the power utility is getting rid of land at a steal, especially that which it does not wish to own before the unbundling process begins. 

The separate sources — inside Eskom and involved with one of the sales — said Eskom had embarked on a “garbage sale” of its property portfolio, which chief executive André de Ruyter has said is worth R10-billion.

“The problem is we have lost a lot of money in the properties we tried to sell, including the Kusile [power station] housing project, so we need the properties to be sold so Eskom can have revenue to keep its business running,” one Eskom source said.

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Khaya Koko
Khaya Koko is a journalist with a penchant for reading through legal documents braving the ravages of cold court benches to expose the crooked. He writes about social justice and human-interest stories. Most importantly, he is a card-carrying member of the Mighty Orlando Pirates.

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