No-one wants the lights to go off. Not the companies that require electricity to produce their goods and services, citizens who need household electricity, or Eskom employees who need their jobs. But this is precisely what will happen if Eskom cannot find a solution to its mammoth R450bn-plus debt. Eskom’s financial situation is so dire that it is unable to finance its operations without continued bailouts.

For the utility to continue functioning, at least half its debt needs to be struck off its balance sheet, but there is very little consensus on how this should be done...

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