South Africa is aware of the “strain and risk” posed by failing state firms, particularly Eskom, and will do more to contain debt, National Treasury said on Friday after ratings firm Fitch downgraded its credit outlook to negative from stable.
Finance Minister Tito Mboweni has announced plans to recapitalise the SABC, Eskom, Denel and South African Airways.
Eskom’s Group Treasurer Andre Pillay has become the latest high-profile resignation from the struggling power utility.
Some councillors in the Johannesburg Metro are living in fear, as locals in their respective areas are frustrated about challenges of electricity supply.
Minister of Public Enterprises, Pravin Gordhan says progress has been made in terms of unbundling Eskom as announced by President Cyril Ramaphosa during the February State of the Nation Address (SONA).
President Cyril Ramaphosa has pledged to ensure the speed up of the release of the R230 billion of support for the ailing power utility Eskom, which he says is too vital to the economy to be allowed to fail.
President Cyril Ramaphosa says Parliament will urgently table a Special Appropriations Bill to allocate a ‘significant portion’ of the 230-billion-rand in fiscal support that struggling power utility Eskom requires.
An Eskom employee has been arrested for soliciting a 30-thousand-rand bribe in Randburg, north of Johannesburg.
The Speaker of the National Assembly, Thandi Modise, has declined a request by the Democratic Alliance for a debate of national importance on Eskom’s financial crisis.
Public Enterprises Minister Pravin Gordhan says the resignation of Eskom’s Chief Executive Officer Phakamani Hadebe is an unfortunate development amidst the ongoing financial challenges at the power utility.