The power utility Eskom is unable to service its debt of about 450 billion rand and has to borrow to pay it.
Power utility Eskom says it will keep the lights on despite a very challenging winter period.
Eskom has reported a loss of R20.7 billion in the 2018/2019 financial year.
Eskom is expected to announce its 2018-2019 integrated annual financial results at the power utility’s Megawatts Park headquarters in Sunninghill, north of Johannesburg on Tuesday.
The Public Enterprises Ministry says the appointment of Jabu Mabuza as both the Acting Chair of Eskom and the Acting Group Chief Executive Officer (GCEO) is to bring about stability at the power utility that would allow for a Chief Restructuring Officer (CRO) to be appointed and unbundling plans to continue.