Why Cosatu might just be right about Eskom and the PIC
To do as Cosatu proposes and use only R200bn+ to invest in Eskom is possible
04 February 2020 - 15:02
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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