State capture casts long shadow over Eskom’s results

South Africa’s worst kept corporate secret was confirmed on Wednesday, when Eskom reported a sharp fall in after-tax profits to R888-million in 2017, from over R5-billion in the previous financial year. However, the results were overshadowed by serious allegations of corruption and maladministration at the utility, which has become the focal point of claims of State capture by a predatory elite.