New Eskom CEO Andre de Ruyter faces daunting R20bn loss
CFO Calib Cassim says the power utility is likely to turn the corner in three years’ time
29 November 2019 - 05:10
Eskom is likely to turn the corner in the next three years, its CFO said on Thursday, as the cash-strapped power utility warned of a hefty R20bn full-year loss, which underlines the daunting task facing incoming CEO Andre de Ruyter.
Labelled the biggest risk to SA by both the Treasury and the IMF, Eskom is buckling under the weight of a R450bn debt load, the interest repayments of which far outstrip the power utility’s income growth...
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