South African Finance Minister Enoch Godongwana said plans for the government to take over part of the troubled state power utility’s debt remain on track and the pending departure of its chief executive officer hasn’t affected negotiations with bondholders.
The utility has subjected the country to rolling blackouts since 2008, because its old and poorly maintained plants can’t generate enough electricity to meet demand.André de Ruyter, Outgoing Eskom CEO The government first announced in October that it will take on between one third and two thirds of the debt, with details to be announced in the February budget.
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