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South Africa govt to take on half of struggling Eskom’s debt

South Africa govt to take on half of struggling Eskom’s debt

OLIVIA KUMWENDA-MTAMBO, WENDELL ROELF and KOPANO GUMBI SOUTH Africa's government plans to take on more than half of struggling state power company Eskom's debt over the next three years to help strengthen its balance sheet and operations and enable it to restructure, National Treasury said on Wednesday. Treasury said the government would take on 254 billion rands ($14 billion) of Eskom's 423 billion rand debt that was at risk of default, to enable the utility to pay down the debt and interest obligations. The move will free up money for spending on maintenance and the transmission and distribution parts of…
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