26 July 2018 1 Min Read

ANC wants private investment in cash-strapped Eskom

The ruling party is also holding discussions about splitting up the SOE's operations

in Business Times by Reuters
Electricity pylons at an Eskom power station near Sasolburg.
Image: REUTERS/SIPHIWE SIBEKO
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The African National Congress wants greater private investment in struggling Eskom, treasurer-general Paul Mashatile said on Thursday.

Mashatile also said the ruling party was holding discussions about splitting up Eskom's operations. He was speaking during a business breakfast on the sideline of a BRICS summit in Johannesburg.

Cash-strapped Eskom reported a R2,3-billion loss for the financial year which ended in March. 

Mashatile added that South Africa cannot afford large-scale expansion of its nuclear power fleet but would still be open to future nuclear deals with Russia. He said the government would not take the 'Big Bang approach' to nuclear expansion. .

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