David Mabuza: Eskom Debt Standing At R454 Billion

Eskom board chairperson Jabu Mabuza.
Eskom board chairperson Jabu Mabuza.

Eskom board chairperson Jabu Mabuza on Thursday said the power utility’s debt still stood at roughly R454 billion.

Mabuza was speaking at the release of the company’s results. He said Eskom expected to report a similar full-year loss this year as the one recorded in 2018.

Mabuza said Eskom secured 64% of the funding it needed for next year, but would still rely on government support to maintain a positive cash balance by next March.

“It is against this background that while a net profit of R1.3 billion was realised for the period ending 30 September, a R20 billion loss is projected by year-end. Our overall interim performance remains unfavourable as we continue to face operational and financial challenges,” he said.

EWN

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