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Investors welcomed plans by government to take on 60% of Eskom’s debt over the next three years.

Eskom CEO André de Ruyter will depart as CEO of Eskom with immediate effect after he slammed the ANC and its “embarrassing”, Soviet-era ideology in a media interview.

MTN South Africa is increasing its consumer post-paid subscription fees by an average of 5.1%. Voice tariffs are also rising.

Government has introduced a R9-billion tax relief programme to reduce the impact of load shedding and support South Africa’s clean energy transition.

Eskom will receive R254-billion in debt relief over the next three years, provided it partially privatises the country’s electricity transmission network and coal-fired power plants.

Government plans to take on more than half of Eskom’s debt burden over the next three years to help strengthen its balance sheet, operations and enable it to restructure.

Naspers is backing rent-to-buy car firm Planet42 in a $100-million debt and equity fundraising.

South Africa’s energy supply crisis worsened significantly in 2022 – especially in the second half of the year – and things could get even worse.

Eskom appears to have reached an unprecedented level of power cuts, indicated late on Tuesday by the company spokesman.

Investors in Eskom are on high alert for finance minister Enoch Godongwana’s plan to reorganise its mountain of debt.