Moment of truth looms for new-look Eskom
President Cyril Ramaphosa is hoping to announce the new shape and size of Eskom in his state of the nation address on February 7
Eskom could be broken up into two state-owned companies if the cabinet accepts the recommendations of President Cyril Ramaphosa’s expert task team at its lekgotla this week.
Ramaphosa is hoping to announce the new shape and size of Eskom in his state of the nation address on February 7. The ANC has agreed to the unbundling in principle.
The power utility is in a dire financial position with negative cash flow and a debt burden of R419bn which it is unable to service from revenue. In order to survive it must cut costs, restructure and receive a substantial bailout from government.
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