Eskom ticking time bomb! – National power utility managed by ANC-regime, debt jumps to nearly R500-billion and is currently the biggest threat to the SA’s economy

Embattled South African state power utility Eskom’s debt burden, described by Goldman Sachs Group as the biggest threat to the nation’s economy, has burgeoned, compounding the difficulty the government faces in formulating a turnaround plan.

The company’s debt is approaching R500-billion, according to data compiled by Bloomberg from public records, including bonds and issued loans, up from about R370-billion a year ago. While the utility declined to comment on the current number, its CEO, Phakamani Hadebe, last month put total debt at about R450-billion.

Eskom hasn’t been selling enough power to cover its operating costs and interest payments, and has been forced to implement rotating blackouts over the past few years to prevent a collapse of the national grid as its fleet of ageing and poorly maintained plants struggled to keep pace with demand.

President Cyril Ramaphosa announced plans earlier this year to split the company into three
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Eskom remains a failure – ANC regime admits that the power provider does not have the capacity to meet the needs of larger industries

The ANC’s Energy Minister, Jeff Radebe, acknowledged that the national power provider does not have the capacity to meet the needs of larger industries.

The developers and investors first want to know if sustainable electric power can be provided, but Radebe first waited for the election to be over before he could admit the truth.

The Vryburger recently reported that several major businesses have decided to become self-sufficient regarding electricity and are going big to get rid of the unreliable national power supplier.

Radebe claims it will need R1 trillion to meet the needs of the larger institutions, and it is well known that the country is drowning in debt and will not get such a loan.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.


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City of Joburg, big companies say no to Eskom and go off the grid – Anglo Platinum, Sibanye-Stillwater, Makro and the City of Johannesburg are all loosening their ties to Eskom

Forward-thinking businesses in SA are now starting to confront life without Eskom by putting plans in place to generate their own energy.

Anglo Platinum and Sibanye-Stillwater are two high profile companies at an advanced stage of planning for solar plants to generate their own electricity. The City of Joburg wants to cement a deal with Harith-owned Kelvin Power Station to purchase power as a way to prevent load shedding, which has done incalculable harm to businesses in the city.

Other companies are further advanced in their plans to reduce their dependence on Eskom power. In 2016 Makro erected solar panels on the roof of its Makro Carnival store on the East Rand to generate 60-80% of its energy needs during the day, equivalent to 30% of the store’s annual energy needs. Many smaller businesses have invested hundreds of thousands of rands in generators to serve as back-up power sources in the event of outages.

‘No plan’ from government

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ANC will do anything to cling on to power! Ramaphosa’s ANC intent on burning the country to the ground as they lose the support of SA

We have gathered evidence of the ANC’s coordinated campaign to literally burn parts of South Africa, particularly where the DA governs. This is indicative of an organisation that is becoming desperate as the writing is on the wall.

South Africans are increasingly rejecting the ANC’s 25 years of empty promises and corruption that has stolen from our people. South Africans want change.

The ANC is running scared of the DA and the inroads the Party has been making across ANC governed areas, as well as the significant change and development we are bringing to the 33 areas we govern on behalf of and for 15 million South Africans in Gauteng, Western Cape, Limpopo and the Eastern Cape.

These attacks are intended to undermine the progress being made in DA governments. Rolling protests are being planned in order to incite violence and shut down communities, in pursuit of the ANC’s narrow political objectives. It is now clearer than ever that the ANC
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