President Cyril Ramaphosa still has to overcome a series of political hurdles to tackle a daunting economic to-do list.
Browsing: Peter Attard Montalto
Fixing South Africa’s broken utility and its rickety power system is proving a crucial test for the ANC ahead of elections in 2024.
South Africa will require R500-billion in private investment to end power cuts that are stalling economic growth by the start of 2025, Peter Attard Montalto said.
Cosatu said it won’t reach a pact with business on how to resolve the debt crisis at Eskom by the time President Cyril Ramaphosa gives his state-of-the-nation speech on Thursday.
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.
Top South African businessmen called upon to help save ailing state-owned companies are abandoning their posts, frustrated by indecision and political interference.
South Africa will ramp up support for its ailing state-owned power utility Eskom with an additional R59-billion spread over two years.
Less than a week after the CEO of Eskom declared “the days of surprises are over”, documents show the government was forced to pay R5-billion in emergency funds so the utility could meet obligations.
Eskom expects to report a loss of more than R15-billion in the year to 31 March, a record for any state-owned company.
The top leadership of the ANC will discuss removing President Jacob Zuma from his post at a 26-28 May meeting, according to two senior party officials who will be in attendance