[ICYMI] The City of Tshwane has officially cleared its R878 million debt to cash-strapped power utility Eskom_SA . Moneyweb Eskom Municipality
The City of Tshwane has officially cleared its R878 million debt to cash-strapped power utility Eskom. The city announced the news via a rather cheeky twitter post on Thursday, which read: “We hope that the power utility will provide the people of [the City of Tshwane] with constant and reliable power supply.” We can confirm that we paid @Eskom_SA an ammount of R876,296,947.97 today at 10:24:08.
Read:No mercy from Eskom for cash-strapped City of Tshwane “Out of the eight metropolitan municipalities in the country, the City of Tshwane is the only one with erratic payments,” Eskom said in a statement it put out earlier this week “The city’s erratic payments over the past year have contributed negatively to Eskom’s increasing overdue debt , liquidity, financial performance, and the sustainability of the organisation, such that Eskom has to borrow to meet its financial commitments,” the...
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