Eskom expects to sign emergency funding deals in ‘day or two’

Cash-strapped State-owned power utility Eskom confirmed on Thursday that its negotiations with funders to meet immediate debt-repayment obligations were at an advanced stage and that it expected to sign-off on the deals “in a day or two”. Eskom acting CEO Phakamani Hadebe revealed this week that the utility had secured in-principle commitments from lenders to provide Eskom with the R20-billion it needed to meet debt obligations that would arise before the end of February.