Not a cent to bail out Eskom, says Gigaba
Minister draws line in sand for embattled state power utility
Unlike SAA, embattled Eskom can forget about counting on Finance Minister Malusi Gigaba to provide a shot in the arm as the power utility searches for funds to meet its commitments this month. A frustrated Gigaba told Business Times this week he would not open state coffers. "There is absolutely no way that government is going to have $1-billion (about R12.2-billion) in the immediate term to capitalise Eskom. There is not a cent that is going to come out of government to capitalise Eskom," he said. The government has already provided guarantees for Eskom of R350-billion. He said Eskom required $1-billion "just in January alone" and that problems at Eskom gave him "sleepless nights". "You have a sense of a company, a board, that is oblivious to the issues the country is raising, completely oblivious. It's as if they live in a different world. "They are unable to resolve the immediate funding challenges of the company and obviously what they are doing is to wreck the company with the ...
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