Eskom, labouring under R450-billion of debt, has sought advisers on how to implement a government bailout seven months after President Cyril Ramaphosa said the company would be reorganised.
Government is intent on ensuring the embattled Eskom becomes a sustainable entity and will consult with its debt holders on any reorganisation, public enterprises minister Pravin Gordhan said.
Embattled state power utility Eskom will be temporarily led by Jabu Mabuza, its chairman, who will take over the roles of interim executive chairman and acting CEO starting from next month.
Denel has received a loan to pay its staff their full salaries this month, according to public enterprises minister Pravin Gordhan, giving the company a short-term reprieve from a cash crisis.
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.
As speculation swirls about plans to deal with Eskom’s crippling debt load, one group of stakeholders hasn’t been consulted: owners of the company’s R243-billion of bonds.
Eskom “isn’t on the brink of financial collapse” and the government has the problem “well under control”, public enterprises minister Pravin Gordhan has said.
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.
Public enterprises minister Pravin Gordhan has sketched two scenarios for winter that stretched the bounds of our collective credulity.
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.