South Africa said on Wednesday that it would reduce its debt relief package for state-owned power utility Eskom by a further R20-billion and would give some of its support in loans rather than taking on the company’s debt.
“Eskom is now in a much better financial position than in 2023 when the debt relief was originally announced. As a result of these improvements, we have decided to simplify the final phase of the debt relief package,” national treasury said in a revised annual budget.
Instead of taking on R70-billion of debt, national treasury will give Eskom R50-billion in loans.
The government previously reduced its…
