As South Africa enters its third day of blackouts, investors are still awaiting word from President Cyril Ramaphosa’s administration on how it’s going to fix the ailing state power company.
Browsing: Tito Mboweni
South Africa has been promising for months to fix Eskom. While little tangible progress has been evident so far, several key decisions are due to be taken this month.
President Cyril Ramaphosa poured cold water on proposals by his finance minister, Tito Mboweni, that state power utility Eskom sell some of its power plants to help settle its debt.
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.
The ANC has approved a range of proposals to revive economic growth, but stopped short of endorsing finance minister Tito Mboweni’s controversial plan to sell some state assets.
There is a need to ensure broadband access for all in order to overcome social, economic and spatial inequality, finance minister Tito Mboweni said this week.
Finance minister Tito Mboweni’s plan to pull the economy out of its longest downward cycle since 1945 may have put him on a collision course with cabinet colleagues, fellow ruling-party members and labour unions.
Finance minister Tito Mboweni says government borrowing will surge and taxes may rise to fund the troubled Eskom. Yet no plan has been announced to restructure the overstaffed company.
South Africa’s decision to more than double its financial support for Eskom is “credit negative” for the sovereign rating as it’s an additional drain on the budget, Moody’s Investors Service said.
A financial crisis confronting South Africa’s state power utility has become a national debt problem.