André de Ruyter, the CEO of South Africa’s debt-stricken state power utility, is navigating a political minefield as he collects overdue debt, reduces electricity theft and bolsters revenue.
Browsing: Pravin Gordhan
South African Airways’ administrators proposed the government put up at least R26.7-billion to rescue the carrier after years of losses and the grounding of commercial passenger flights.
Efforts to address Eskom’s R450-billion debt burden have taken a back seat to the government’s focus on fighting the Covid-19 pandemic.
South African Airways has been denied any further funding by government as the national carrier looks for ways to recover from the coronavirus crisis and business rescue.
Administrators for South Africa’s loss-making state airline have defended their decision to cut routes as part of a turnaround plan, after objections from President Cyril Ramaphosa, government and labour unions.
The bold proposal by Cosatu to relieve Eskom of close to 60% of its debt using pension money may be presented by President Cyril Ramaphosa in next week’s state of the nation address.