Cape Town – Embattled state entity Eskom is reportedly set to receive nearly R20 billion from the National Treasury as part of a debt relief package promised by the government.
Eskom’s interim CEO, Calib Cassim, said this on Wednesday and said that it is the second installment of a debt relief package from the government.
The funding was initially announced in February and aims to help Eskom manage its extensive debt of R423 billion owed to various global organisations.
Taxpayers are expected to contribute R254 billion towards this relief effort.
“We have got a big maturity with the syndicated banks coming up now in October, so we will get this money from the Treasury next week,” Reuters quoted Cassim as saying on the sidelines of a climate conference organised by lender Standard Bank.
Eskom announced earlier this week that the Kusile power station unit 1 is back in service, contributing 800MW to the grid, and this development is seen as a step toward reducing and eventually ending load shedding in the country.
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Compiled by Betha Madhomu
