The logo of state power utility Eskom is seen outside Cape Town's Koeberg nuclear power plant in this picture taken March 20, 2016. REUTERS/Mike Hutchings

Home » Eskom Won’t Need More Government Cash Over Next Year, Says Gordhan

Eskom Won’t Need More Government Cash Over Next Year, Says Gordhan

South African state-owned power firm Eskom does not require government cash injections over the next 12 months, the country’s Public Enterprises Minister Pravin Gordhan said on Monday. Cash-strapped Eskom is critical to South Africa as it supplies more than 90 % of the country’s power… but is also one of its most indebted state firms. […]

By SAPeople Contributor
08-10-18 15:23
in Business
The logo of state power utility Eskom is seen outside Cape Town's Koeberg nuclear power plant in this picture taken March 20, 2016. REUTERS/Mike Hutchings

South African state-owned power firm Eskom does not require government cash injections over the next 12 months, the country’s Public Enterprises Minister Pravin Gordhan said on Monday.

The logo of state power utility Eskom is seen outside Cape Town’s Koeberg nuclear power plant in this picture taken March 20, 2016. REUTERS/Mike Hutchings

Cash-strapped Eskom is critical to South Africa as it supplies more than 90 % of the country’s power… but is also one of its most indebted state firms. However Gordhan had some good news.

“They (Eskom) have got enough liquidity for the next year, and they don’t require any cash from the government side,” Gordhan told Reuters on the sidelines of the FT Africa Summit in London.

He added that job losses weren’t currently on the table at the power firm either.

(Reporting by Karin Strohecker; editing by Marc Jones)