Futuregrowth Asset Management says it is not quite ready to resume lending to cash-strapped Eskom. SA’s biggest specialist fixed-income money manager halted lending to Eskom in 2016, citing concerns over governance and financial management. While the publication of overdue financial statements this week was a step in the right direction, Futuregrowth’s position had not changed, though it might reconsider at some stage, chief investment officer Andrew Canter said. "As Eskom finalises its accounts, makes amends, strengthens its governance and improves its reporting, we would expect to be able to consider resuming channelling some of SA’s savings toward Eskom," Canter said in an e-mailed response to questions. Eskom said it planned a return to the domestic bond market in April, and might tap international markets in the second half, provided it could get a clean audit by then. The company also needed to raise R20bn in the short term to boost liquidity, acting chief financial officer Ca...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.