SIKONATHI MANTSHANTSHA: How to clean up Eskom and save SA
The way to inject a strategic equity partner into Eskom would be to sell a stake in Medupi and/or Kusile
Having generated R45bn in cash from its operations, Eskom paid out interest and other funding costs of R38bn in the year ended March, on its debt of more than R360bn. And that was before the downgrades that increased the cost of Eskom’s debts. The paltry R7bn left over will be swallowed by ever-increasing funding costs, together with the rampant corruption that is eating Eskom alive. The problem is, the utility must find more cash to finish the investment programme it started a decade ago. Almost half the Medupi power station is now generating electricity, but the rest needs funding to be finished. Two out of six generating units are generating power at the Kusile power station, with four to go. The total investment in these projects is over R310bn.These gifts would seem to be a "thank you" after Singh and his colleagues — Matshela Koko, Brian Molefe and others — moved mountains to ensure the Guptas got their hands on Optimum Coal. Singh personally drafted and signed a shady R1.6bn ...
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