South Africa pledges $5 billion Eskom bailoutStaff Writer | February 22, 2019
South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years.
Africa It still leaves Eskom facing an uncertain future
Analysts said the financial support would give the ailing power firm several years to implement a restructuring plan which will see it split into separate entities for generation, transmission and distribution.
But it still leaves Eskom, which last week subjected South Africa to the worst series of power cuts in several years, facing an uncertain future with unsustainable debts, crippling costs and stagnant sales. ■