TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Willington Ngwepe to step down as Icasa CEO

      10 August 2022

      Samsung unveils its latest foldable smartphones

      10 August 2022

      Cape Town’s DataProphet expands funding to R165-million

      10 August 2022

      The tech proves it: South African women are better drivers than men

      10 August 2022

      BT, Seacom sign ‘strategic alliance’ for enterprise services

      10 August 2022
    • World

      Jumia says it’s past peak losses, shares jump

      10 August 2022

      Elon Musk sells $6.9-billion of Tesla to avoid Twitter fire sale

      10 August 2022

      Nvidia issues profit warning on slump in demand for graphics cards

      8 August 2022

      Buterin: Mining on Ethereum Classic won’t affect Merge

      8 August 2022

      Musk challenges Twitter CEO to a public debate

      7 August 2022
    • In-depth

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022

      Webb telescope’s stunning images of the cosmos

      12 July 2022
    • Podcasts

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022

      Demystifying the complexity of AI – fact vs fiction

      6 July 2022
    • Opinion

      SIU seeks to set aside R215-million IT tender

      19 July 2022

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Energy»Workers must get a stake in Eskom: Cosatu

    Workers must get a stake in Eskom: Cosatu

    Energy By Agency Staff9 February 2020
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    Cosatu, the country’s biggest labour federation and a key ally of the ANC, said it wants the R104-billion Eskom’s debt held by the state pension fund manager to be converted into equity owned by workers.

    The proposal, made in an opinion piece in Business Day newspaper by Cosatu’s general secretary Bheki Ntshalintshali, is part of a deal the labour federation is trying to reach with business and government to rescue Eskom. The utility can’t supply sufficient power to the country and has R454-billion in debt.

    “This will result in workers becoming shareholders in the power utility,” he said, without giving further details.

    Workers believe that their retirement funds can contribute toward economic growth, socially desirable investments and employment creation

    Eskom is seen as key to South Africa’s economic performance and the country’s ability to hold onto its last investment grade credit rating. Regular power cuts are hindering output in the economy.

    Ntshalintshali also recommended that at least 10% of all pension funds, whether private or government owned, be invested in government bonds geared toward social investment and employment creation.

    “Workers believe that their retirement funds can contribute toward economic growth, socially desirable investments and employment creation,” he said.

    The raising of the possibility of so-called prescribed assets is likely to anger investors who are opposed to having their investments dictated by government.  — Reported by Antony Sguazzin, (c) 2020 Bloomberg LP

    Cosatu Eskom top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleNow Ericsson pulls out of MWC in Barcelona
    Next Article SAA business rescue team defends plan to cut airline’s routes

    Related Posts

    Willington Ngwepe to step down as Icasa CEO

    10 August 2022

    Samsung unveils its latest foldable smartphones

    10 August 2022

    Cape Town’s DataProphet expands funding to R165-million

    10 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    How secure is your cloud?

    10 August 2022

    5 ways to make attack-path management more manageable

    10 August 2022

    Smart homes need even smarter Wi-Fi

    10 August 2022
    Opinion

    SIU seeks to set aside R215-million IT tender

    19 July 2022

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.