South Africa Burdened by Utility’s Near $35 Billion Debt Load

World News: . []

South Africa Burdened by Utility’s Near $35 Billion Debt LoadEskom Holdings SOC Ltd.’s debt is approaching 500 billion rand ($35 billion), according to data compiled by Bloomberg from public records, including bonds and issued loans, up from about 370 billion rand a year ago. While the utility declined to comment on the current number, its Chief Executive Officer Phakamani Hadebe last month put total debt at about 450 billion rand. 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 aging and poorly maintained plants struggled to keep pace with demand.


Read More: https://finance.yahoo.com/news/south-africa-burdened-utility-near-030000845.html

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