There’s been enough bad news about Eskom in recent months to rattle the hardiest bond investor. Or so you’d think.
South Africa is looking to spend billions of rand to secure energy from mega-projects on the continent at a time when state power utility Eskom is broke and struggling to supply enough electricity.
Civil society organisation Corruption Watch said it has launched an application in the high court in Pretoria to have former Eskom board members declared delinquent.
The Public Investment Corp’s board of directors offered to resign amid an inquiry into allegations of wrongdoing, throwing the South African manager of more than R2-trillion deeper into crisis.
Government will announce within a month how it plans to fix Eskom, the embattled state utility that supplies more than 90% of South Africa’s power. There…
EOH Holdings said on Wednesday that it was cleared of involvement over allegations of misconduct at Eskom.
EOH Holdings shares plummeted on Tuesday after Eskom published allegations that its former chief procurement officer was involved in acts of misconduct involving the listed technology group.
Eskom is facing a mounting repair bill at two new coal-fired power stations that are still under construction, compounding its already dire financial situation.
South Africa is considering doubling the amount of electricity it plans to buy from a proposed multibillion-dollar hydro power plant in the Democratic Republic of Congo.
Government is pushing Eskom, the power utility with R419-billion in debt, to present a credible turnaround strategy before the 20 February budget presentation, a person familiar with the situation said.