France ready to give financial support to Eskom: Business Times | Fin24
 
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.

Loading...

France ready to give financial support to Eskom: Business Times

Nov 10 2019 12:21
Paul Burkhardt, Bloomberg

France is weighing providing financial support to South Africa's indebted utility Eskom, the Johannesburg-based newspaper Business Times reported.

South Africa plans to restructure loss-making Eskom, which is struggling under R450bn of debt, by separating the power utility's generation, transmission and distribution businesses.

The company is seen as the biggest threat to the national economy and its last remaining investment-grade rating.

France is working on different plans to assist Eskom and with its own development agency is ready to provide financial support to assist with the utility's restructuring, according to the Business Times, citing the French ambassador to South Africa, Aurelien Lechevallier.

The support would likely be structured as a multi-partner loan that could potentially include other nations such as Germany and South African development banks, the ambassador said.

eskom  |  france  |  south africa  |  investment  |  energy
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...