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Selco posts loss on cost of dropped transactions.(Financial report)
Byline: Siseko Njobeni
Selco posts loss on cost of dropped transactions SISEKO NJOBENI Energy Affairs Editor SOUTHERN Electricity Company (Selco) fell into the red for the six months ended December due to & the substantial costs involved in the restructuring transaction that did not materialise& Selco specialises in electricity distribution, management, metering and billing. Its core business consists of the operation, maintenance and management of electricity networks on behalf of local authorities with current concessions in Namibia.
The JSE last year questioned the accounting treatment of Selco's planned acquisition of three companies, prompting the …
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