R69bn in support for Eskom made conditional on restructuring

Finance Minister Tito Mboweni has turned down a proposal for R100-billion of Eskom’s debt to be transferred across to the National Treasury, but has instead announced R23-billion a year in financial assistance for the debt-laden utility that is directly tied to a restructuring of the business. Over a three-year period the assistance would amount to R69-billion, which Mboweni stressed was designed to help Eskom with its reconfiguration and pay off debt and “not to pay salaries”.