The power utility says local financial institutions are now queuing up to lend it money following the drastic changes in management recently.
Not long ago, Eskom was facing collapse amid allegations of widespread corruption and mismanagement.
But now there’s a new board and a new Acting CEO and they’ve wasted no time cleaning up the place and getting rid of senior managers accused of corruption.
The efforts are already paying off. Eskom needs R20 billion to stay afloat until the end of its financial year next month.
It already got R5 billion from the PIC this week and it’s about to secure the remaining R15 billion from local banks.
Thereafter, it will have to secure R70 billion for the next financial year beginning in April.
Meanwhile, the new disciplinary hearing against the controversial Head of Generation Matshela Koko is set to begin next week.
He remains suspended until the matter is finalized.
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