E161 000 electricity debt baffles shareholders
SITEKI – The Eswatini Electricity Company (EEC) has disconnected power supply used for irrigating a farm measuring 34 hectares under Tikhwepha Investment situated at Ngevini Umphakatsi for owing E161 000.
According to Nozipho Sithole, a shareholder, they uncovered this after the election of a new committee a fortnight ago, when they went to seek proof of residence through an electricity bill statement.
She said they were surprised because they were under the impression that the electricity bill was being paid.
Sithole said the Board of directors headed by Daniel Thabede had its term of office elapse last year after serving five years.
The shareholder mentioned that they then mobilised as shareholders last month and convened an electoral meeting, where a new Board was elected headed by Anastacia Ndwandwe.
She shared that the 34 shareholders further instructed the new Board to change the registration of the company on the basis that it was not bringing in dividends to them as it was controlled by the former Board.
“We acted swiftly in electing a new board and made sweeping changes in the operations of the company. The workers have not been earning their salaries for the past three months and we also voiced our concerns as shareholders, but nothing was done to remedy the situation,” she said.
Finalising
The newly-elected chairperson of the Board Ndwandwe said they will be finalising the registration of the company under a new name this week.
The chairperson mentioned that the new Board members were elected by the shareholders, replacing the Board whose term had elapsed after serving five years in office.
“Our objective is to ensure that the company strives for growth and also benefits the shareholders who contributed towards its establishment,” she said.
However, the outgoing chairperson of the Board Thabede said he was not aware of the newly-elected Board.
Thabede explained that he was currently busy arranging meetings with the Board members to set a suitable date for elections.
He stated that he was also not keen to discuss the issue of the disconnected electricity supply.
“I cannot discuss issues of the company in the media but can only comment that we will be holding elections soon,” he said.
EEC Marketing and Corporate Communications Manager Khaya Mavuso said his company could not disclose details of customer debts, therefore, could not comment on the specific issue.
Encouraged
Mavuso encouraged customers to engage his company directly on matters relating to their debts and settlements.
Meanwhile, a similar company, known as Phakama Mafucula (PTY) LTD engaged ERS on the tax debt relief programme for their E8 million debt.
The company’s Board Chairman Sifiso Dlamini, over a year ago, estimated that the company owed E6.2 million.
At the time, he said the company was still to secure a financial statement of the debt and then engage ERS so that they could also benefit from the tax relief programme afforded by government to companies and businesses that were facing financial difficulties in settling their debts with ERS.
In 2022, the company set aside E3 million that was shared by 246 shareholders.
The company owed ERS tax amounting to E8 million and the accrued tax date back to 2014.
The company was established in 2003. The company had made arrangements in their payment plan to pay E50 000 monthly instalment to ERS in servicing the tax debt.