Eskom plans to sell foreign debt in about two months’ time following an improvement in investor sentiment, its CEO Phakamani Hadebe says. Hadebe, who was appointed permanently to the position in May, said on Thursday that whereas investors and banks were not willing to lend to Eskom in 2017, they were now approaching their credit committees to seek approval for lending. The struggling power firm is emerging from corporate scandals and governance issues as well as a string of interim CEO appointments stretching back to 2016. "We are seeing an increase in appetite from investors. From July last year to January we couldn’t even sell R1bn of debt, but the situation has changed dramatically," Hadebe said at a briefing on Eskom’s operations. "We plan a foreign issuance in around two months’ time." He said between R15bn and R20bn of foreign borrowing is expected this financial year. Eskom would reduce capital expenditure at the firm to R45bn rand from R55bn in the current financial year, h...
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