President Cyril Ramaphosa poured cold water on proposals by his finance minister, Tito Mboweni, that state power utility Eskom sell some of its power plants to help settle its debt.
Browsing: Eskom
South Africa’s economy was roaring along in 2007 on the back of the global commodities boom when power shortages struck, bringing mines and smelters to a halt.
A panel of experts under the leadership of the CSIR has submitted a proposal to declare eMalahleni, Klerksdorp and Beaufort West as preferred locations for wind and solar photovoltaic power projects.
Government has spent months mostly talking about how to save the debt-stricken state power utility Eskom, spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering.
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The ANC has approved a range of proposals to revive economic growth, but stopped short of endorsing finance minister Tito Mboweni’s controversial plan to sell some state assets.
Eskom’s standalone credit profile was downgraded one notch at Fitch Ratings, signalling the South African power utility’s worsening ability to repay debt without additional government support.
South Africa is asking independent power producers to lower electricity costs as part of the rescue of Eskom, the insolvent state-owned utility.
A new report proves what everybody already knows: businesses cannot operate without electricity and without operating businesses the economy cannot grow.
Debt-laden power utility Eskom has narrowed its search for a new CEO as the government finalises a plan to rescue the business.