Eskom’s financial woes could end soon

Eskom’s financial crisis could soon be over.

The power utility says local financial institutions are now queuing up to lend it money following the recent drastic changes in its management, with a new board being announced.

Eskom needs R20 billion to stay afloat until the end of its financial year next month.

It’s already received R5 billion from the Public Investment Corporation (PIC) this week.

Eskom says it’s about to secure the reaming R15 billion from local banks, as spokesperson Khulu Phasiwe explains.

“The market has been saying there’s a lot corruption in Eskom and the perception was that the old board was not doing anything about it, so the old board has been removed.”