Ramaphosa outlines early bailout relief for Eskom
Presidency-led initiative intends to create two-million jobs for young people over next 10 years
In an ambitious address that promised both expansive public spending as well as a commitment to prudent management of public finances, President Cyril Ramaphosa outlined an extensive programme for the next five years at the opening of parliament on Thursday evening.
In the biggest announcement of the night, Ramaphosa said Eskom would receive a portion of the R230bn in support from government, which was promised at the time of the budget sooner than had been anticipated. This is to alleviate its financial crisis and enable it to finalise its annual financial statements in the next few weeks. Without additional support it is not a going concern...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.