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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