Eskom reports R55 billion loss, predicts profit by 2025

South Africa’s state utility, Eskom, reported a staggering R55 billion ($3 billion) loss for the fiscal year ending March 2023, largely due to a one-off charge linked to the separation of its transmission unit.

However, the embattled utility is optimistic about its future, forecasting a profit of over R10 billion for the fiscal year ending March 2025.

Eskom is undergoing a major restructuring to split into three units—generation,…