The South African Nuclear Energy Corporation (Necsa) suffered cumulative losses of R257.78-million in the 2016/17 and 2017/18 financial years and is expected to announce an even larger loss of R294.27-million for 2018/19, resulting in cumulative losses of R552.05-million for the three-year period. The dire financial position of State-owned enterprise Necsa was outlined in a board document, dated April 18, 2019, of which Engineering News Online has had sight. Titled ‘Necsa Turnaround Strategy’, the document reveals that the financial situation was so bad that Necsa had to liquidate some of its financial assets in both 2017/18 and 2018/19, in order to obtain the funds it needed to meet its operational expenses. The document proposed a radical refocusing and restructuring of the corporation.