Finance Minister Enoch Godongwana says South Africa desperately needs new energy capacity, no matter where it comes from.
South African Finance Minister Enoch Godongwana said plans for the government to take over part of the troubled state power utility’s debt remain on track, and the pending departure of its chief executive officer hasn’t affected negotiations with bondholders.
The government first announced in October that it will take on between one-third and two-thirds of the debt, with details to be announced in the February budget. The quantum of relief will in part depend on the tariff increases Eskom secures from the nation’s energy regulator. Price rises will need to be both palatable to consumers and ensure the utility becomes sustainable, according to the finance chief.Other highlights:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DUNCAN McLEOD: Even with a broken Eskom, EVs are our futureDe Ruyter is right: despite the power crisis, South Africa needs to shift to electric vehicles
Read more »
Africa: A Shift in the U.S. Perspective On AfricaChina was the elephant in the room as the Biden administration sought to regain trust among African leaders gathered in Washington this week. Analysts saw the US make some progress.
Read more »
DUNCAN McLEOD: Even with a broken Eskom, EVs are our futureDe Ruyter is right: despite the power crisis, South Africa needs to shift to electric vehicles
Read more »
Africa: Cybastion Leads the Way to Africa with Major Deals SigningsAnnouncement - Cybastion, an emerging leader in the field of cybersecurity, took centre stage at side events of the U.S. - Africa Leaders Summit. The cybersecurity firm was also the platinum sponsor for the US - Africa Business Forum event. (USABF)
Read more »
5 important things happening in South Africa todayThe ANC is expected to announce its top 7 today; presidency explains why the army is at Eskom; Education department getting ready to launch a probe into matric cheating; and Zuma came in a like a wrecking ball at the ANC conference.
Read more »