He says a new Eskom CEO will be appointed in the next few days while the power utility is expected to be revamped soon.
Eskom owes its creditors over R400 billion and does not generate enough cash to even pay the interest on its debt. It will be split into three subsidiaries namely – generation, transmission and distribution.Earlier the President said the ease of doing business in South Africa had significantly been improved. He says it’s now faster and easier to register a business than was the case in the past.
Ramaphosa says progress has been made in improving the visa regime to support tourism and the Integrated Resource Plan has been approved to provide certainty around government’s preferred energy mix. However, some experts have warned that this could lead to increased inefficiencies, especially if competition is allowed.
The investment conference calls on potential investors to engage with government and business representative on new investment opportunities.
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Eskom will continue to be financial drain for government: Analyst - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Independent energy consultant Andrew Kenny has warned that Eskom will continued to be a financial drain for government because of its rising operating costs. They are not the only ones 🙄☝️
Source: SABC News Online - 🏆 32. / 51 Read more »
Eskom notes Moody’s downgrade with disappointment - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom notes Moody’s downgrade with disappointment Eskom says it has noted with disappointment Moody’s decision to downgrade the power utility’s credit rating of its unsecured debt deeper into sub investment grade. ? What? Disappointment? They’ve been given how many lifelines? They’ve done exactly nothing to correct the situation, but expect the world to treat them the way the corrupt anc does? Really, these people can’t solve the problem if they can’t even see what the problem is! Let's hope is not a ldea of putting Eskom on sale If South Africa is an integral part of BRICS, why beg Moody’s which an extension of global Central banks . Yes! The nuclear option would have worked but South Africa is being incarcerated by British and Rothschild debt
Source: SABC News Online - 🏆 32. / 51 Read more »