Cosatu tones down its plan for Eskom

Cosatu’s proposal that pension funds invest in Eskom to give it a way out of its debt trap, which is now under discussion with business and government, is taking on a more market-friendly form as discussions progress.

Cosatu, which made a presentation to parliament’s committee on public enterprises, said on Wednesday it is committed to ensuring that investments by pension funds in Eskom are in line with investor mandates. This will mean any investment necessarily has to command an inflation-beating return.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cosatu tones down its plan for EskomFederation states commitment to ensuring that pension fund investments follow mandates
Source: BDliveSA - 🏆 12. / 63 Read more »

Cosatu proposal to cut Eskom debt 'not risk free but only option', MPs toldCosatu's Matthew Parks said the failure to adopt a credible plan to save Eskom would result in SA being downgraded by ratings agencies, with dire consequences. There are lots of options, all of which involve cutting staff, removing BEE contracts and allowing Eskom to operate without political interference. Who is going to help the businesses that are in trouble as a result of Eskom? Is government going to instruct SARS to assist businesses in trouble? I doubt it .... How about COSATU putting its money where it’s mouth is & “investing” some of its funds in Eskom? Surely financial advice should be taken with considered care from an organization with it’s own checkered financial management history?
Source: IOL - 🏆 46. / 51 Read more »

Confusion reigns over who will ensure that state debts to Eskom are paidDisagreement over who in the government is responsible for making sure that state entities pay their debt to Eskom led to the breakdown of a parliamentary meeting on Wednesday. The ANC doesn't even know it has a left hand and a right hand. The lights to this nice name is wasting electricity
Source: TimesLIVE - 🏆 28. / 59 Read more »

No load shedding expected on Friday, says EskomNo loadshedding was expected on Friday and over the weekend, Eskom said.
Source: IOL - 🏆 46. / 51 Read more »

Eskom to kick off liquidation proceedings against Gupta-linked Trillian for R600mThis follows legal proceedings instituted by Eskom, asking for the liquidation of the Trillian entities.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

How Eskom wasted billions while deviating from procurement guidelinesEskom is the chief culprit among state-owned entities and departments when it comes to deviating from procurement guidelines and expanding the scope of its contracted work and as a result taxpayers have lost billions of rands. The tweet makes it sound almost as if there was some sort of minor lapse of controls, rather than a targeted campaign to steal all the money. We need a Supreme Court trial and jail, not a departmental hearing and a warning letter Why are people not arrested, surely someone deviates from those guidelines and taxpayers lost billions, no accountability ......question; should we not hold the auditing fraternity liable as well for not RED Flagging these matter all those years ago. If not, what relevance do they play in the business world?
Source: City_Press - 🏆 7. / 72 Read more »