HILARY JOFFE: Eskom's mountain is not yet a koppie but it's no Everest
The utility still isn't making enough to service interest on its vast debt
AR19bn net loss is a bleak sight, and even bleaker if you look at Eskom's pre-tax loss that was almost R25bn for the year to end-March, excluding the benefit of a tax credit. Yet for the first time in a long while, the shape of its financials suggests the trajectory is shifting.
The utility still isn't making enough to service interest on its vast debt...