Budget 2024: Tough line on bailouts could see Eskom debt relief cut by R2 billion

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.The government has proposed that allocations to Eskom through the debt relief programme be cut by R2 billion, citing the power utility’s failure to dispose of its finance company.

Eskom’s debt relief conditions stipulate that the utility dispose of its finance company by 31 March this year. Eskom’s debt, for example, has kept the utility from investing in its ageing coal-fired plants, precipitating a 15-year energy crisis. “This is to ensure that Transnet implements the short-term initiatives in the recovery plan and aligns it with the cabinet-approved roadmap for freight logistics,” the document reads.

Speaking at a media briefing ahead of his speech, Godongwana said: “We are engaging with Transnet to do the right things, so that they are able to sustain themselves.”

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Minister of Finance to Present Budget for 2024 Fiscal YearMinister of Finance Enoch Godongwana will be presenting the country's budget for the upcoming fiscal year in Parliament at a sitting of the National Assembly at the Cape Town City Hall tomorrow, 21 February 2024. The budget speech is expected to address the country's financial challenges, including credit rating downgrades, government debt, and a significant deficit. The timing of the speech, just before a national election, adds to the difficulty for the minister.
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