South Africa simply has to rescue the nation’s distressed power utility. Even though it can’t afford to.
Browsing: Eskom
Government is considering a R3.2-billion guarantee for the country’s cash-strapped national broadcaster to help it raise money from lenders, according to a report.
Eskom, the beleaguered South African power utility, should quit coal-fired generation over the next 20 years and focus instead on transmission and regional grids, according to Greenpeace Africa.
Government is being sued for failing to crack down on some of the world’s worst air pollution emitted by power plants operated by Eskom and refineries owned by Sasol.
South Africa has no option but to increase financial support for Eskom even while pushing for reforms at the stricken state-owned power utility, according to national treasury director-general Dondo Mogajane.
While President Cyril Ramaphosa says power utility Eskom is considered too big to fail, S&P Global Ratings has a different view: it could be too big to support.
While state-owned enterprises such as Eskom, SAA and the SABC continue to make headlines for all the wrong reasons, one (partially) state-owned company is doing quite well, thank you very much. By Duncan McLeod.
An exodus of CEOs during the economic downturn is becoming alarming, particularly as there are apparently so few ready replacements.
It isn’t difficult to find the main culprit behind South Africa’s biggest economic contraction in a decade: Eskom, the state-monopoly power provider.
South Africa’s economy contracted the most in a decade in the first quarter as the nation suffered the deepest power outages since 2008. The rand dropped and banking shares slumped.