South Africa’s state-owned power utility, Eskom, has reported a profit of R23.9 billion – its first in eight years – signalling a significant financial turnaround.
The utility has long struggled with deep-rooted issues including corruption, mismanagement, and operational inefficiencies. These challenges led to consistent financial losses and a reliance on government bailouts. As a result, South Africans endured years of load shedding and unexpected power outages, which dealt a severe blow to households and businesses alike.
A report published in March 2025 by the Council for Scientific Research (CSIR) revealed that the South African economy lost up to R2.8 trillion due to load shedding in 2023. In 2024, the figure was reduced by 83% to R481 billion.
However, this week, the state-owned entity confirmed that for the 2025 financial year which ended on 31 March, it recorded a R23.9 billion profit, which is a major turnaround from 2024’s R25 billion loss.
Eskom Board chairman Mteto Nyati said the power utility is increasingly a sustainable, investable company ready to compete in a liberalised, competitive energy market.
“The Board has remained utterly focused on using public money efficiently, and early interventions in governance and controls have delivered early measurable improvements in the fight against crime, fraud and corruption,” he said.
