A unified plan to turn around Eskom and end uncertainty is coming, says Gordhan

The original article can be found here.

Article highlights:

  • The state will soon agree on a comprehensive, unified approach to turning around Eskom, which is saddled with R402 billion in debt, according to Public Enterprises Minister Pravin Gordhan.
  • Options on the table include selling some of its old coal plants and accelerating the retirement of others, getting the state to take over half of its debt and converting R82 billion of bonds held by a state-worker pension fund into equity.
  • Gordhan also voiced support for Andre de Ruyter, saying he backs the Eskom CEO “150%”.