JOHANNESBURG, Oct 18 (Reuters) – South African utility Eskom will get up to 20 billion rand ($1.06 billion) from the National Treasury next week, its interim CEO Calib Cassim said on Wednesday, in the second tranche of a debt relief package from the government.
The government’s handout was first announced by the National Treasury in February to help the debt-laden monopoly power generator and supplier to pay off its debts in a timely manner and avoid defaults.
The Treasury offered a total of 254 billion rand so Eskom can repay part of the 423 billion rand of total debt that it owes to global financial institutions.
“We have got a big maturity with the syndicated banks coming up now…
Read the full article at: https://www.reuters.com/business/energy/safricas-eskom-get-second-debt-relief-payment-next-week-ceo-2023-10-18/