ANC agrees to look into selling shares to fix Eskom
Breaking up the power utility into generation, distribution and transmission units is at core of restructuring plan
The ANC has agreed that the selling of shares is another option which should be explored to fix Eskom’s balance sheet, which would include the participation of development finance institutions. The party described the situation at Eskom as a “serious threat” to the government and the economy as a whole at its national executive committee lekgotla at the weekend. While there were other proposals on the table signed off by the meeting, the restructuring of Eskom, breaking it up into generation, distribution and transmission, is at the core of the plan which was agreed upon to rescue the power utility. According to the ANC’s economic resolutions agreed to at the lekgotla, the party went as far as calling for the assets of the former Gupta-linked company Tegeta to be “expropriated” to recoup money lost through alleged corrupt coal deals. Also agreed to was that tariffs should be managed responsibly so as not to harm the economy and the poor. Nonpayment of debt by municipalities to Eskom...
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