City Power puts plan in place to turn around ailing entity after R5bn loss

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The Auditor General (AG) says senior management of City Power failed to monitor internal financial controls resulting in irregular and wasteful expenditure amounting to about R5 billion. The power utility has received an unqualified audit opinion for the 2023/2024 financial year. The AG’s report paints a picture of financial mismanagement within the entity entrusted with providing electricity to most households and businesses in Johannesburg. Phemelo is in conversation with City Power CEO Tshifularo Mashava about the power utility’s plan to turn around ailing entity after R5 billion loss.

18 Mar 4PM English South Africa Education · Careers

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