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Eskom fails to meet conditions attached to R59bn bailout

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Eskom has failed to meet some of the conditions attached to the R59bn it received from the government last year to service its debt through the special appropriation bill

This has been disclosed to parliament by the National Treasury's chief director of state-owned enterprises oversight, Ravesh Rajlal, during a meeting with Eskom and the standing committee on appropriations.

Finance minister Tito Mboweni imposed the disposal of the Eskom Finance Company as one of the condition attached to the R59bn, saying it was not core to the utility's operations. Rajlal said the power utility was still struggling to find a suitable buyer of Eskom Finance Company.

 

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