Finance minister Enoch Godongwana proposed a debt-relief arrangement for South Africa’s embattled power utility of R254 billion during his 2023 Budget Speech on Wednesday, 22 February.
The finance minister outlined several conditions that must be met for Eskom to retain the debt-relief arrangement. No new borrowing will be allowed from 1 April 2023 until the end of the debt-relief period, unless otherwise approved by Treasury “They will be financed through the R66 billion medium-term expenditure framework baseline provision announced in the 2019 Budget, and R118 billion in additional borrowing over the MTEF period.”
Eskom, the National Treasury, and the Department of Public Enterprises will engage in quarterly meetings to discuss progress on achieving these conditions “Undertaking a debt relief of this magnitude without addressing this risk would be counterproductive,” he said.
Again
Anc is serving a 10 course fine dining buffet. Cadres can EAT
Pathetic, so we get a tariff increase which the normal working class has to take on the chin, and on top of that the income tax along with PAYE and VAT which we pay and make up thre treasury budget gets handed over to Eskom. what a time to be alive
How incredible that a country who can't afford proper toilet blocks at schools can all of a sudden give R254bil to MYANC neglect of SOE under the eatch of his excellency CyrilRamaphosa. Where did this money come from and name the cadres will get stinking rich from this?
Where does this money now come from?
Just to be looted by syndicates and mafia?
this money will be burnt to keep generators on 🤣
Absolute joke ! Bailout after bailout …
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