WUC posts P121m �artificial� profit

WUC CEO Mmetla Masire
WUC CEO Mmetla Masire

Struggling Water Utilities Corporation (WUC) made an artificial profit of P121 million for the year ended March 31, 2016, thanks to a P388 million tariff subsidy grant from government in the year.

The parastatal’s financial results for the period showed it realised revenues of P1.3 billion in the year while expenses stood at P1.57 billion. This left the corporation with a loss of P242 million and in a state that makes it unable to operate as a going concern.

Auditing firm, Delloite said the loss incurred was before taking into account the P388 million tariff subsidy grant received from the government during the year.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up