Eskom gets dose of tough love from Tito Mboweni in medium-term budget
The only financial support allocated to Eskom is the existing bailout package of R23bn a year for the next decade, announced in the February budget
Finance minister Tito Mboweni surprised the market in his medium-term budget policy statement (MTBPS) by announcing no new measures to restructure Eskom’s debt. Instead, he offered the troubled utility tough love, saying that he wanted to see reforms before it could get more financial support.
Eskom, which has R450bn of debt that it is unable to service, has said that it needs to be relieved of R250bn debt to be sustainable...