National Treasury is in talks with the power utility and its bond holders to absorb as much as two-thirds of the power entity’s R400bn debt by next year.
Finance minister Enoch Godongwana says unburdening Eskom will allow it to focus on capital investment and critical maintenance needed to end load-shedding.National Treasury is in talks with Eskom and its bond holders to absorb as much as two-thirds of the power entity’s R400bn debt by next year. Unburdening Eskom of some of its debt would allow the utility to focus on capital investment and critical maintenance needed to end load-shedding.
The finance minister, who said Eskom is “the biggest known risk to the economy”, said National Treasury is leading discussions on the power utility's debt relief programme with a range of stakeholders, including bondholders and Eskom. “The specifics of the programme, including the selection of the relevant debt instruments and the method of effecting the relief, are still being finalised.
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