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Bloomberg
South Africa’s stricken power utility will receive $13.9 billion in debt relief from the government over the next three years, provided it brings in private partners to help operate its plants and electricity transmission network.
The package will strengthen the Eskom Holdings’s balance sheet and cover all interest payments over the next three years, budget documents presented by Finance Minister Enoch Godongwana to lawmakers in Cape Town on Wednesday show. That will free up money for the utility to undertake plant maintenance and improve the transmission and distribution infrastructure as the country battles record electricity outages.
Eskom “imposes an enormous drain on the economy,†the National Treasury said in its Budget Review.