Eskom

South Africa to unveil Eskom support package in coming days – Ramaphosa

http://www.engineeringnews.co.za/article/south-africa-to-unveil-eskom-support-package-in-coming-days-ramaphosa-2019-02-05

South Africa to unveil Eskom support package in coming days – Ramaphosa

5TH FEBRUARY 2019 

BY: REUTERS

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South Africa will in the coming days unveil a package of measures to shore up State-owned Eskom's finances and address structural issues facing the struggling power firm, President Cyril Ramaphosa said on Tuesday.

"In the coming few days we will be announcing a package of measures to stabilise as well as to improve Eskom's financial, operational as well as structural position, and to ensure security of energy supply for the economy," Ramaphosa told a mining conference in Cape Town.

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"We will not allow Eskom to fail," he added.

Ramaphosa is trying to turn around the ailing company – which supplies more than 90% of South Africa's power but is drowning in R420-billion of debt. 

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EDITED BY: REUTERS

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