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Municipalities to lose slush fund from electricity supply monopoly as High Court rules for PMB, NMB Business Chambers

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Melanie Veness and Denise van Huyssteen, CEOs of the PMB and NMB Business Chambers, ventured where few in the private sector have the courage to tread by taking on the practical impact of the ANC's ruinous cadre deployment system in the High Court. They are today celebrating a massive victory after winning what their legal advisor MC Botha describes as "an emphatic judgement". At issue is the long-time practice of municipalities loading electricity tariffs to fund incompetent management. The consequence of the High Court's finding will be to prevent all municipalities from using their monopoly over electricity supply - and what their tariffs - as a bottomless slush fund financed by ratepayers. Veness spoke to Alec Hogg of BizNews. Learn more about your ad choices. Visit megaphone.fm/adchoices
20 Oct 2022 10AM English South Africa Investing · Business News

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