President Cyril Ramaphosa announced sweeping changes to the nation’s electricity industry to address energy shortages and reduce reliance on debt-stricken state power utility Eskom.
Author: Agency Staff
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South Africa’s debt-stricken power utility Eskom has begun a process to offer managers voluntary severance packages. The board allocated a budget of R400-million to the plan.
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Due to some improvement in the power system, Eskom will not implement any load shedding on Wednesday, the state-owned power utility said.
Cosatu said it won’t reach a pact with business on how to resolve the debt crisis at Eskom by the time President Cyril Ramaphosa gives his state-of-the-nation speech on Thursday.