Asset sales can’t fix problems at South Africa’s Eskom, chairman says
Eskom’s chairman Jabu Mabuza gestures during the 2018/19 interim results at the Eskom’s head office at Megawatt Park, in Sunninghill, South Africa, November 28, 2018. REUTERS/Siphiwe Sibeko
JOHANNESBURG (Reuters) – South Africa’s state-owned power utility Eskom should look at government equity injection and debt relief among options to assist the troubled firm with its financial woes, its chairman said on Wednesday, saying asset sales will not help.
“All the assets which we could sell are the ones that no one could buy,” Eskom chairman Jabu Mabuza said at the company’s results presentation.
“There are other ways, call them what you want. A bailout, an equity injection by the shareholder …or some debt relief.”
Reporting by Alexander Winning; Writing by Olivia Kumwenda-Mtambo; Editing by Louise Heavens
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