With little detail about Eskom’s debt plan expected, budget could disappoint

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With little detail about Eskom’s debt plan expected, budget could disappoint: The utility’s R400 billion debt has fed into the country’s 15-year energy crisis and low growth potential, which has been identified as a key credit weakness

Enoch Godongwana, South Africa's finance minister, speaks during an interview following the mid-term budget in Cape Town, South Africa, on Wednesday, Oct. 26, 2022.

South Africa is hiring an independent contractor to advise on conditions it should attach to debt relief for state-owned power utility Eskom Holdings SOC Ltd., Godongwana said. Photographer: Dwayne Senior/Bloomberg via Getty Images

 

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IMF will clean it up!

Only in ANC run South Africa can a company supplying an essential product with zero competition go into that much debt

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With little detail about Eskom’s debt plan expected, budget could disappointWith little detail about Eskom’s debt plan expected, budget could disappoint - The utility’s R400 billion debt has fed into the country’s 15-year energy crisis and low growth potential, which has been identified as a key credit weakness
Source: mailandguardian - 🏆 2. / 92 Read more »

With little detail about Eskom’s debt plan expected, budget could disappointWith little detail about Eskom’s debt plan expected, budget could disappoint - The utility’s R400 billion debt has fed into the country’s 15-year energy crisis and low growth potential, which has been identified as a key credit weakness
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Eskom debt albatross hangs over plans to stabilise budgetFinance minister Enoch Godongwana faces the task of incorporating a credible debt relief plan for the stricken state power utility in the national budget while stabilising government finances as record blackouts weigh on the economy.
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