Eskom’s Interim CEO announced that the National Treasury has paid an R16 billion debt relief package to power utility Eskom, which will help pay half of the debt Eskom is currently facing.
In February Eskom received R254 billion from the national treasury to pay its debts to global financial institutions, which currently top R423 billion.
“We have received the first drawdown in terms of the Eskom debt relief bill,” Cassim said on the sidelines of the BRICS summit, adding it would help the company meet its debts.
Cassim added that the payment was received at the end of July, and the next payment was expected in October.
He said the relief package stated that in the next four years, the power utility cannot take out any loans.
Source: Reuters
