Gordhan’s call to arms on Eskom crisis spooks bond investors
Public enterprises minister does not provide answers on the utility’s bigger problem, its financial crisis
Public enterprises minister Pravin Gordhan and Eskom’s top leadership on Thursday declared that Eskom is in crisis with an unprecedented breakdown of old plants due to neglect and exceptionally poor performance of new units due to poor quality work by contractors.
But although Gordhan gave an extensive briefing on Eskom’s operational difficulties, he did not provide answers on Eskom’s bigger problem, its financial crisis. The omission spooked bond holders, whose concerns are mounting as they may have to take losses on their holdings.
If you are already a subscriber, please click on the following link to go to the full article: Gordhan issues call to arms on Eskom crisis