Ramaphosa said the debt that Eskom had amassed was a"problem that we have to deal with", adding the power utility was"just to big to fail".
Eskom has debt burden of about R419bn. In his maiden Budget speech in February Finance Minister Tito Mboweni announced afor the power utility over three years. Over a decade balance sheet support is expected to reach R150bn. "It has been tested and evaluated. It is credible and can be implemented and it is already being implemented."
Fin24 The USSR was also to BIG to fail and boom gone overnight 🤦♂️
Fin24 Can never trust this geezer, he said few months b4 elections that at eskom there'll be no retrenchments.
Fin24 Disingenuous! If you do not have cash to run an operation you dead. Ask Group 5, who would have thought they could fail? The only way for Eskom is government bail outs!
Fin24 Too big to fail? Seems to me like an understatement. But it can't even pay their debts and needs every month bailouts to pay the bills.....or rather salaries and incentives.
Fin24 Wht about dividing it
Fin24 Just a reminder that Eskom was systematically destroyed by his cadres and those that looted and wasted are still living it up. This includes his own ministers. Consumers should not bear the brunt of those actions.
Fin24 Too big too fail because we tax payers have to bail them out repeatedly. This shit must stop!
Fin24 It's already a failure,and if you think it's not then you going to fail.
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Source: eNCA - 🏆 49. / 51 Read more »
Ramaphosa says turnaround at Eskom will bear fruit soon | IOL Business ReportPresident Cyril Ramaphosa today told local and international investors that South Africa’s economy would be in ‘top gear’. busrep And let me guess.....he allegedly lied with a straight face and then laughed. busrep How can a company who supplies the majority of S A's with 220v be in debt of over R400 billion ......... BILLION Something not right there !! 🤢 busrep Fruit for who is the question? Won’t be us we will get another tarring increase.
Source: IOL - 🏆 46. / 51 Read more »
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