PIC would invest only in ‘credible’ business case for Eskom

Electricity pylons at an Eskom coal-burning power station near Sasolburg. Picture: REUTERS/SIPHIWE SIBEKO

SA's broke power utility is R450bn in debt and is seen by ratings agencies as the biggest risk to SA's finances. Cosatu has suggested that about 7% of the R2.2-trillion managed by the PIC, together with contributions from the Industrial Development Corporation and Development Bank of Southern Africa, be invested in a special-purpose vehicle that would take over R250bn of Eskom’s debt.

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Ramaphosa, Gordhan like Cosatu's idea of using PIC's R250bn to reduce Eskom's debt | IOL Business ReportRamaphosa said steps that were taken on Eskom’s debt should not undermine the investment mandates of the PIC, as proposal is met with mixed feelings. This two must just forget. Ramaphosa must use his own money to save Eskom, he have enough money to save us from the dark hao. This is highly unethical. These people need to be stopped 😡🤬😡 Ordinary electorates have no idea what their “representatives” are doing.
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