Exclusive: S.African power utility Eskom gets $850 mln tranche of ...

Summary
Companies

Eskom received 16 bln rand from Treasury in July, CEO says
The next payment for debt relief expected in Oct
Might not be able to raise external debt for four years
In talks with Treasury to find ways to take climate loans

JOHANNESBURG, Aug 22 (Reuters) – South Africa’s Treasury has paid 16 billion rand ($852 million) to heavily indebted power utility Eskom, the first tranche of a debt relief package that will wipe off more than half its liabilities, acting CEO Calib Cassim said on Tuesday.

The Treasury offered a total of 254 billion rand to the state-owned company in February so it can pay its debts to global financial institutions, which currently top 423 billion rand.

Analysts view the offer as a crucial lifeline to help Esk…

Read the full article at: https://www.reuters.com/world/africa/safrican-power-utility-eskom-gets-850-mln-tranche-state-help-with-debts-2023-08-22/

Exclusive: S.African power utility Eskom gets $850 mln tranche of … – Reuters

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