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Cape Town - Eskom has again come under the whip of Fin24 commentators as various articles revealed the extent of the supplier's financial woes.
Commentators were also vocal after a story revealed that the SA government spent up to R1trn on infrastructure in the last five years, yet Eskom was unable to keep the lights on.
User, Isaac Newtonian, who has three comments featured in the top ten this week, touted free market competition as the only solution for Africa's energy crisis.
This week Eskom also told the SA public that it could earn R40bn by hiking electricity tariffs. This was not received well in the comments section, with Fin24 user Ian Flack asking "what happens after the crisis - will tariffs come down or will we see fat bonuses?"
Other stories that generated interest included whether 'food shedding' could be next on the crises list and the government wage offer for state workers.
Below is the weekly dose of top ten Fin24 user comments - selected for their wit, value-add to the topic at hand and contribution to healthy debate in a country so much in need of constructive dialogue.
Top ten users comments on:
Eskom: Africa needs R5.5trn investment to curb power cuts:
1. Isaac Newtonian – They are only realising now after 20 years that they can show amazing growth via private sector partnerships. How long is it going to take them to open the markets to all international businesses and embrace the free market with unlimited competition? Another 50 years before they wake up? Another 50 years before they discover the magic of Hong Kong, Singapore?
Open up the entire market to all business competitors across the world. Let them invest and do business as they like. You see where America is right now? That's because of the free market. Total competition. Everything is in private hands. - READ STORY
R1 trillion spend fails to keep lights on in SA:
2. Caraline De Canha - The framework of the NDP can grow our economy but factors like BEE and taxes curb economic growth. We cannot grow the economy if there is a system that forces businesses to comply with unrealistic demographic goals. After 20 years of BEE we are seeing the compounded effect on the economy. Instead of creating a long-term sustainable development model with competent workers in their respective positions, we have a crony system that only benefits those well connected - READ STORY
Eskom says tariff hike could earn it nearly R40bn:
3. Michael Konni - Instead of complaining maybe we should just stand up and use an alternative method. Why don't we try to gather 1 million people. They can use their monthly Eskom bill as an investment for solar power. Let's say R500 average per month. That's R500m a month or R6bn a year. R6bn plus any other generous offers, is a lot of money to start converting homes to solar power. Get off the grid completely. R6bn loss for Eskom every year until they a) close their doors for good or b) government allows private companies to take over supply and generation. To hell with Eskom - READ STORY
4. Ian Flack - And after the crisis? When they do not need to run the gas turbines? Are they going to reduce the cost of electricity by an equivalent amount or give themselves fat bonuses with the money and happy pats on the back for the huge profits they will make thereafter? - READ STORY
Three guidelines for SA's nuclear deal:
5. Myrti Viridis - Nuclear madness on a scale that boggles the mind. While the whole world is moving away from this, we "map out in detail" a nuclear build programme. God help us.
At R1.80/kWh it's probably the most expensive electricity you can generate: 3 times more expensive than wind, 2.5 times more expensive than solar, 1.8 time more expensive than Medupi/Kusile. Why are we doing this? - READ STORY
Is food shedding next, asks Grain SA:
6. Isaac Newtonian - I can't understand why they want 50%? What's wrong with 20%? 15%? Rather start small and move towards higher investment rates in farms that produce more. Isn't that how you invest? You start small and invest more as success is achieved. You first get to know the farms that are doing well and that are functioning well. - READ STORY
7. Gavin Hillyard - I consider myself an African. I was born here and so were 7 generations of my ancestors. I have travelled to many other countries and it is always a relief to get back home. 'Oos, wes, tuis bes' is so true. So I would rather partner with all stakeholders in our country to get it back on track for the benefit of all our people. I pray that the current government incumbents are but a blip in the progress to a better life for all. We need someone of courage, vision and determination to reverse the slide to mediocrity that our country is sadly on - READ MORE
Government raises wage offer to 7%, union says:
8. Andrew Haw - With respect, I'm a teacher at a government school and already I'm dealing with 40 learners in a class. Half the amount of teachers means I'd be up to 80. THIS IS NOT PRACTICAL. For those arguing that salaries should be earned not given. I work 7 hours at school, I then have sporting commitments for the school, that's usually another 2 hours so that's 9. I then have classes to prepare for, that's another 2 hours so that's 11 hours and then of course there's marking to be done and that's another 3 hours a night easily. So that's a 14 hour work day. Tell me then, have I earned my salary? - READ MORE
9. Isaac Newtonian - The average salary increases in the world is 4%, 5%. It is tied to GDP. It's tied to the growth in income for the country. Now you can imagine: if the economy grows at 3%, what can the government afford to pay in terms of salaries? The government income has risen by 3% because the economy has grown by 3%. Now what percentage increase in salary can government afford to pay to its employees. There's been a 3% increase in income since last year? - READ MORE
Cell C wants to buy your old contract:
10. Francois Hageman - I do not want R10 000. All I want is to be able to make and receive calls without having to repeat everything that I say 5 times and having to ask the other person to continuously repeat what he had said. I will gladly pay the cellphone company that can provide me with that BASIC service - READ MORE
Disclaimer: All letters and comments published in MyFin24 have been independently written by members of the Fin24 community. The views are therefore their own and do not necessarily represent those of Fin24.
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