The series of cash injections and a planned takeover of a portion of Eskom’s loan portfolio will amount to R495.6 billion in the fiscal year through March 2026, the National Treasury said in response to emailed questions. The figure includes Finance Minister Enoch Godongwana’s R254 billion relief package for Eskom, which was
in February and hinges on the debt-laden company meeting pre-determined performance targets meant to wean it off its reliance on public finances. ruled out any further cash injections for the company that’s struggling to produce enough power to meet demand. That’s despite calls from the newly appointed Electricity Minister Kgosientsho Ramokgopa for more fiscal support to ease outages, known locally as load shedding.
Straying from the latest debt-relief plan would test the credibility of South Africa’s fiscal framework and budget processes in a country with a full house of junk credit ratings. It would also rattle investors who have placed a premium on the currency because of the slow pace of economic reforms, severe power rationing and logistics-network constraints that are eroding the nation’s growth prospects.
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