Thursday, 23 August 2012

ESKOM Deceives the People - Wastes 368 Billion Rand

This information was taken from the ESKOM website on the 22nd Dec 2010.

It clearly shows that ESKOM has spent 368 Billion Rand on upgrades in 2010. In a country of an estimated 50 million people, this means that ESKOM has spent an average R7360-00 per person, including babies. This is an average of R30,000 per 4 person household.

NOW – do you still think that ESKOM is trying to help the people of South Africa to get cheaper electricity? They are abusing the people, lying to the people and acting unlawfully against the people of South Africa.

 Capacity expansion programme by project (including interest capitalised) 

Total approved project cost
Total inception to date expenditure

6 061  
5 739  

7 803  
7 107  

12 965  
8 402  

1 973  
1 035  

1 496  
1 233  

Matla refurbishment  
3 564  

2 450  

Majuba rail  
4 235  

21 800  
6 131  

OCGT and Gas 1  
8 762  
7 861  

3 356  

141 500  
14 697  

125 500  
32 076  


Camden rail  

Transmission projects  
26 800  
13 623  

368 513  
98 940  

It is evident from ESCOM financials and website that it has taken a loan by floating a BOND or several BONDS through the government on the international stock markets. This is a form of securitisation where the promissory notes, or contracts containing the signatures of all ESCOM customers are sold to third-party investors as surety for future payments. This is unethical, unconstitutional and contrary to the greater public interest of the people, in essence selling the people of South Africa into slavery to outsiders.

The founders of the UBUNTU Party have extensive experience and knowledge of these deceptive activities from part of the legal action that we brought against all the major banks in South Africa, the South African Reserve Bank, and the Minister of Finance in the Supreme courts and even the Constitutional Court, in an attempt to declare the actions of the banks unconstitutional. So far we have not been successful, while millions of people lose everything due to the unlawful and fraudulent activities of the banks that are supported by the courts and judges. For more in this please see

This is a highly convoluted system of manipulating money so that very few people actually understand how it all works – but it exposes the deceptive and unethical behaviour of our government and ESCOM.

If this is the case, which we believe it to be, it also means that there should be no more outstanding debt by ESCOM, and that the bank is profiteering from each and every one of us. We the people should not be held liable for any such debt created on our behalf, without our knowledge, because the bank and ESCOM has lost all rights or ‘locus standi’ to the amount of the loan from the moment it was sold and securitised.  The loan is already paid off and we should have free electricity.

This is only a short introduction to the underhanded and deceptive actions of our leaders, together with the international bankers. We send them love and we hope that they recognise the harm they are causing us all and change their ways.