President Cyril Ramaphosa has signalled he doesn’t back a proposal from the struggling state-owned power utility for the government to assume a large portion of its debt.
Browsing: Energy and sustainability
Eskom is said to be considering the sale of smaller assets as the state-owned power utility weighs solutions to a liquidity crisis that contributed to a wave of rolling blackouts.
There is unlikely to be any further load shedding until at least mid-January 2019, Eskom said in a statement on Thursday.
Eskom should consider selling two coal-fired plants that rank among the world’s biggest to repair the state-owned utility’s finances, according to the head of South Africa’s biggest bank by market value.
Public enterprises minister Pravin Gordhan on Thursday announced immediate plans to put an end to the load shedding that has been a daily occurrence countrywide since 29 November.
Bloated by debt, bled by corruption and battered by structurally declining sales, Eskom is facing what’s known in the industry as a “death spiral”.
Huawei is planning to unveil a new phone with a camera capable of taking three-dimensional pictures, people familiar with the matter said.
Eskom wants government to absorb about R100-billion of debt as part of a rescue plan for the state-owned utility, according to a report, a move that will put further strain on already stretched state finances.
It’s deja vu for South Africa as a chronic power deficit plunges large tracts of the country into darkness and casts a pall over the already struggling economy.
Cash-strapped power utility Eskom should rely on bond markets to raise the funds it needs rather than expecting bailouts from the government, finance minister Tito Mboweni said.