Eskom's credit risk is soaring as South Africa’s state-owned electricity supplier girds for a battle with labour unions over wage demands it can’t afford. | Fin24
Eskom's credit risk is soaring as South Africa’s state-owned electricity supplier girds for a battle with labor unions over wage demands it can’t afford.
Demands by labour groups are still far from the below-inflation offers by Eskom, a loss-making business that can’t afford to service its R396 billion of debt without government bailouts. Eskom on Friday cut 4 000 megawatts from the power grid, increasing load shedding across the country.
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