Friday , October 22 2021

Eskom provides a R15bn loan



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SAJOM, SA's indebtedness, claims to have secured a R15bn loan from a local and international bank consortium.

The state-owned company is in a very financial position with a negative cash flow and a R419 billion debt that it is unable to handle from revenue.

Eskom said in a statement on Friday afternoon that the mechanism guaranteed by the R15bn government will partly finance its capital expenditure program.

“The closure of the facility will ensure that Eskom's liquidity requirements will Times are very important for business, ”said the company.

Now Eskom has provided approximately 95% of the R72bn funding for the financial year, while the remaining 5% will be tied to domestic debt capital markets and other sources.

"A stable liquidity position requires the company to focus on securing funding for the next financial year, of which 30% is already secured."

This is due to the suggestions that Eskom should be distributed to individual state-owned companies.

President Cyril Ramaphosa hopes that on February 7, the form and size of the new Eskom will be announced as a state address. The ANC agreed in principle to separation.

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