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Africa   $83.5 million

South Africa's Eskom has cash to last 'a few months'

EskomSouth Africa's cash-strapped power utility Eskom has enough cash to pay wages and keep operations going for a few months and does not plan to retrench any workers despite a liquidity crunch.

"The finance division has indicated there isn't any hindrance in our ability to make those payments (wages)," Khulu Phasiwe, spokesman for the country's sole power supplier said.

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"This is why we've been negating these reports that we only have 1.2 billion rand ($83.5 million) in our coffers.

"Although we have not met our target of 20 billion rand in terms of reserves, we still have enough cash to keep us going for a few more months," he said without giving a timeframe.




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