South Africa: With profit doubled in a year, has Eskom finally turned the corner?
Eskom reported a group profit after tax of R30.3bn ($1.8bn) for the financial year ended 31 March 2026, more than double the restated R14bn reported in FY2025. This marks the second straight year of profitability for the South African power utility.
Why it matters: This development bears on the theme of energy security and the financial sustainability of state-owned enterprises in emerging markets.