Ramaphosa's energy crisis plan provided no clarity on where Eskom will get the money
The National Treasury is formulating a plan to transfer a significant portion of Eskom’s almost R400bn debt load onto its own balance sheet in an attempt to find a sustainable solution to the state-owned power utility’s debt crisis.
Eskom’s bonds rallied on the news, which was first reported by Bloomberg, and is likely to make it easier for the power utility to raise cheaper financing to fund much-needed expenditure on maintenance and possible further investment in generating capacity. The news comes just three days after President Cyril Ramaphosa announced an action plan to end load-shedding...
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