Necsa reports much reduced losses and that it is achieving turnaround

The South African Nuclear Energy Corporation (Necsa) was successfully turning itself around, the State-owned entity’s CEO, Loyiso Tyabashe, has told Parliament’s Portfolio Committee on Mineral Resources and Energy. He also pointed out that the 2021/2022 financial year (FY) had been a time of transition from Necsa’s previous strategy and corporate plan to a new strategy, focused on growth. At the start of the financial year, Necsa had been forecast to make a loss for the year of R155-million. At the end of the financial year, the loss actually recorded had been much less, at R23.2-million. During the previous financial year, it had suffered a loss of R318.74-million. In FY 2019/2020 the loss had been R190.91-million and in FY 2018/2019, Necsa had seen a loss of R12.46-million.