HILARY JOFFE: Eskom disaster sets clock ticking for downgrade

28 July 2019 - 00:11 By Hilary Joffe

Eskom is due to announce its annual financial results this week. They will be dire - but not as dire as they would have been had the government not agreed to hand over almost R130bn of taxpayers' cash to the power utility over the next couple of years.

Without the massive bailout, Eskom's auditors would not have been able to sign off its accounts because of doubts about its "going concern" status. That's clear from finance minister Tito Mboweni's statement this week, in which he says the additional R59bn of financial support, over and above the R69bn granted in February, would address Eskom's going-concern status...

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