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Eskom Measures: Need Progress before Govt Takes Any of its Debt

SOUTH AFRICA
  • Godongwana says that while Treasury will ultimately have to take over a portion of Eskom’s debt, he wants to see the company increase efficiencies and sell assets – including coal power stations – before it does.
  • While Eskom is in the process of selling some of its non-core business and some of its property portfolio, the sale of coal power stations has not been under consideration.
  • "We acknowledge, however, that Eskom is faced with a large amount of debt that remains a challenge to service without assistance. The National Treasury is working on a sustainable solution to deal with Eskom’s debt in a manner that is equitable and fair to all stakeholders.
  • Any solution will be contingent on continued progress to reform South Africa’s electricity sector and Eskom’s own progress on its turnaround plan and its restructuring.
  • To date, Eskom has been provided with R136 billion to pay off its debt with a further R88 billion over the period until 2025/26.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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