President Cyril Ramaphosa remained tight-lipped on Tuesday about the details of a R33bn loan agreement between state power utility Eskom and the China Development Bank. At the weekend, DA leader Mmusi Maimane said he had written to Ramaphosa on August 24 requesting the full details of the loan agreement Eskom signed, and had given the president 14 days to respond. The president had yet to do so. Maimane said he had therefore decided to submit a request to Eskom in terms of the Promotion of Access to Information Act for the terms and conditions of this loan to be made public. The financially hamstrung Eskom and various struggling state-owned enterprises have been heavily reliant on government guarantees in recent years, which pose a risk to SA’s sovereign credit ratings. 'Not unusual' "It is not unusual for SOEs to raise funding in the market for things like capital investment or operating costs," Ramaphosa said during a question and answer session in the National Council of Provinc...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now