A proposal by the biggest owner of Eskom’s debt to convert its R88-billion holding into equity has become a rescue option as South Africa seeks to restructure the troubled power utility.
Browsing: Jabu Mabuza
Jabu Mabuza, chairman of the South African power utility regarded as the biggest risk to the nation’s economy, has taken on a non-executive director role at pay-television company MultiChoice Group.
Government is putting the final touches on a R230-billion bailout package intended to get its debt-stricken state power utility back on track. Except it won’t be nearly enough.
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 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.
Eskom has a plan to keep the lights on for the rest of the year – or, in the worst-case scenario, to implement only stage-one rotational load shedding. Here’s how it intends achieving this promise.
South Africans looking for signs of an end to the latest round of power cuts were left disappointed after the minister responsible for power utility Eskom said he doesn’t have answers yet.
Long-serving Telkom chairman Jabu Mabuza is stepping down from the JSE-listed telecommunications board at the end of May, more than seven years after he assumed the role.
The sorry state of South Africa’s state power utility starkly illustrates just how far the country slipped during former President Jacob Zuma’s scandal-marred rule and the enormity of the task of rebuilding the nation’s stricken finances.