WUC loses P500m through leaks, non-invoicing
Thursday, December 14, 2017
The corporation incurred a loss in revenue of over half a billion pula, its latest annual report shows.
During the year under review, a total of 100.6 million kilolitres of treated water was pumped into the distribution networks, and only 71.8 million kilolitres was accounted for while 28.7 million kilolitres was not. From the 72 million kilolitres invoiced to customers, WUC realised revenues of P1.4 billion in the year meaning the unaccounted 28.7 million kilolitres represents P530 million in lost revenue on average.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...