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ZAR: Eskom Expects To Turn Profit In FY2025

ZAR
EM BulletBulletEmerging Market News
  • Spot USD/ZAR reversed initial losses yesterday and extended its winning streak to three consecutive days, printing its best levels in four months in the process. EM FX took a hit earlier in the week as the Fed charted a shallower rate-cut path.
  • Eskom said it expected to register a full-year profit of more than ZAR10bn in FY2025, its first gain since 2017. However, the utility also reported, with a nine-month delay, a steep ZAR55bn loss for FY2024. Still, the utility continues to face many familiar problems, including missed payments by municipalities, corruption and accumulated debt.
  • The National Treasury proposed a series of legislative amendments to help South Africa exit the Financial Action Task Force's (FATF's) grey list amid the need to demonstrate improvements in law enforcement.
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  • Spot USD/ZAR reversed initial losses yesterday and extended its winning streak to three consecutive days, printing its best levels in four months in the process. EM FX took a hit earlier in the week as the Fed charted a shallower rate-cut path.
  • Eskom said it expected to register a full-year profit of more than ZAR10bn in FY2025, its first gain since 2017. However, the utility also reported, with a nine-month delay, a steep ZAR55bn loss for FY2024. Still, the utility continues to face many familiar problems, including missed payments by municipalities, corruption and accumulated debt.
  • The National Treasury proposed a series of legislative amendments to help South Africa exit the Financial Action Task Force's (FATF's) grey list amid the need to demonstrate improvements in law enforcement.