BUSI MAVUSO: Eskom’s falling debt level a further sign of reform taking root
There are encouraging signs of change as the state-owned enterprise steps back from the cliff
It is reassuring to hear that Eskom’s debt is now less than R400bn, which is still a staggering number but at least it is beginning to fall. Public enterprises minister Pravin Gordhan also told Bloomberg that the state-owned enterprise is in talks to secure funding for its transition to renewable energy.
If we were to pick out one of the most damaging legacies of the past decade of governance failures at our most critical institutions, it would have to be the debt Eskom managed to accrue in its badly executed build of its two coal-fired power stations and its Ingula Pumped Storage Scheme...