Tito Mboweni gives Eskom R59bn lifeline, on top of February's R69bn

Tito Mboweni confirms R59bn lifeline for floundering Eskom

23.7.2019

Tito Mboweni confirms R59bn lifeline for floundering Eskom

Finance minister Tito Mboweni has tabled a special appropriation bill to provide an additional R59bn to Eskom to help the debt-ridden power utility meet its financial obligations in the current and next financial years.

Finance minister Tito Mboweni Mboweni says the serious financial and operational challenges at Eskom are mainly caused by governance failures. File photo.

This is on top of the R69bn that the energy company was allocated in the national budget in February.

Mboweni said the serious financial and operational challenges faced by Eskom were, to a large extent, caused by governance challenges which were playing themselves out at the Zondo commission. The entity previously experienced many difficulties and a decline in investor confidence.

Read more: Sunday Times
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Tito Mboweni confirms R59bn lifeline for floundering EskomFinance minister Tito Mboweni has tabled a special appropriation bill to provide an additional R59bn to Eskom to help the debt-ridden power utility meet its financial obligations in the current and next financial years. Good times for Monopoly Capital

Tito Mboweni confirms R59bn lifeline for floundering EskomFinance minister Tito Mboweni has tabled a special appropriation bill to provide an additional R59bn to Eskom to help the debt-ridden power utility meet its financial obligations in the current and next financial years. Good times for Monopoly Capital

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Eskom to get extra R59bn from the governmentThe funds will come from the Revenue Fund, and the finance minister may impose conditions to be met by Eskom before any part of the amount is transferred

Eskom set to receive a fast-tracked R59bn in the coming two years | Business | M&GRidiculous. The number of homes that could've been built with that money. Appalling mismanagement by government Whose milking eskom, I'm quite sure it is not the Guptas Soweto owes eskom billions

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Eskom appropriation bill to be decided | IOL Business ReportLegislators will today have to walk a fiscal tightrope when they decide on the special Eskom appropriation bill.

Restructuring of Eskom debt inevitableBusinessman Norman Mbazima confident a solution will eventually be found to bring relief for cash-strapped power utility Restructuring the debt only puts off the inevitable. Eskom itself needs to be restructured so that it can avoid the inefficiences and graft of the past and clean up South Africa's electricity emissions.

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