Sona hoped to reveal urgent, if expensive, Eskom rescue efforts
Eskom simply must be rescued — and Cyril Ramaphosa has given assurances that he won’t let it fail — but ‘how’ remains the R440bn question
19 June 2019 - 17:44
SA simply has to rescue the nation’s distressed power utility. Even though it can’t afford to.
Eskom supplies 95% of the nation’s electricity. If it goes bankrupt, the entire economy will be dragged down as well. The danger of this is growing: the utility has a mountain of debt, doesn’t produce enough power to meet demand or cover its costs, and urgently needs to implement a turnaround plan that will hinge on government aid...
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