Daily Maverick
Africa · 1 hrs ago
✦ 72◉ Centre
UNCOOPERATIVE GOVERNANCE: Company ‘rescued’ by Nelson Mandela Bay now R11m behind on its rates
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Accuracy 72/100
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◉ Centre ✓ Fair headline
Coega Steels, a company at the centre of a governance dispute in Nelson Mandela Bay involving a controversial transformer lease, has accumulated R11 million in arrears on its electricity account while maintaining payments on the lease itself.
UNCOOPERATIVE GOVERNANCE: Company ‘rescued’ by Nelson Mandela Bay now R11m behind on its rates
As the transformer lease that sparked one of Nelson Mandela Bay’s biggest governance controversies heads for judicial review, it has emerged that Coega Steels is R11-million in arrears on its electricity account — despite keeping up with its monthly transformer lease payments.
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