Afrigather Eskom’s debt stood at R356.8-billion in 2021, in accordance with the ability utility’s final revealed annual monetary statements. The federal government plans to take over a portion of Eskom’s debt and switch it to its monetary books. However this plan nonetheless has many holes in it.
After three years of guarantees and delays, the federal government has unveiled a broad plan to sort out Eskom’s smothering debt of practically R400-billion.
However the plan nonetheless lacks many and particular particulars, which the federal government mentioned might be unveiled in February 2023 throughout the primary funds.
Extra broadly, the federal government plans to take over a portion of Eskom’s debt, Nationwide Treasury unveiled within the Medium-Time period Finances Coverage Assertion on Wednesday. In sensible methods, a portion of Eskom’s debt might be moved from the ability utility’s monetary books or steadiness sheet to that of the federal government.
An answer to Eskom’s debt drawback was first promised in late 2019 by former finance minister Tito Mboweni. However for a few years a reputable debt answer was by no means introduced whereas Eskom’s monetary and operational issues worsened.
Eskom’s debt stood at R356.8-billion in 2021, in accordance with its final revealed annual monetary statements.
Taking up a portion of Eskom’s debt will give the utility…
