Standard Bank is planning to provide nearly R10bn ($520m) in new finance to support Eskom’s transmission system, says Kenny Fihla, the bank’s CEO for corporate and investment banking.
People walk past Eskom's electricity pylons as they return from work in Orlando, Soweto township, South Africa, July 20, 2020. REUTERS/Siphiwe Sibeko
Standard Bank is planning to provide nearly R10bn in new finance to support Eskom’s transmission system, Kenny Fihla, the bank’s CEO for corporate and investment banking, tells The Africa Report.national treasury to allow the utility to borrow, Fihla says. The mechanisms to ensure that the money is applied to transmission and that Eskom has the needed procurement abilities also need to be met.
Fihla is optimistic that the money can start to be deployed in coming months. “We’re trying to iron it out now.”Also receive offers from The Africa Report
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