The City of Tshwane has agreed to a five-year payment plan to settle its R6.7 billion debt to Eskom, avoiding further legal action.
The City of Tshwane has signed a payment plan to settle its nearly R6.7 billion debt to Eskom , the state-owned power utility. Eskom had taken the municipality to court over its bulk arrears debt, but the two parties met before the hearings and agreed to a five-year payment arrangement plan. The City of Tshwane is committed to making an initial payment of R400 million in December 2024, with the last payment scheduled for March 2029.
Should the municipality default on the payment plan or its current accounts, the total amount owed will become due and payable immediately. Eskom Group Executive for Distribution, Monde Bala, expressed satisfaction with the collaborative agreement, which contributes to the sustainability of Eskom and the economic growth of South Africa
City Of Tshwane Eskom Payment Plan Debt Settlement Economic Growth South Africa
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