Vandalism worsens City Power's financial woes

City Power CEO Tshifularo Mashava says the power utility is in a bad financial situation as it is faced with aging infrastructure and continues to bear the brunt of theft and vandalism.

In the entity’s annual integrated report for the 2021-2022 financial year, Machava paints a bleak picture, saying, “over the past few years, the power utility had a negative revenue, surplus and cash flow concerns about its financial position...The risk of the energy crisis in SA has become untenable and the residents and businesses in the City of Johannesburg have borne the brunt of this undesirable situation.”..