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Revised breakup plan rattles Eskom creditors | SA News

South Africa’s decision to modify a plan to break up its state-owned power utility Eskom into three separate entities is encountering opposition from creditors and foreign government funders.

The “revised unbundling strategy” approved by Electricity Minister Kgosientsho Ramokgopa will split Eskom Holdings SOC Ltd into distribution, generation, renewable energy and transmission subsidiaries, but under a single holding company, according to a statement posted on the utility’s website this month.

Read: No go for Eskom-Nersa R54bn secret settlement

That contrasts with expectations that the company would be…

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  2. Did you knowthis about South Africa? South Africa celebrates its annual Heritage Day on 24 September. On this day, South Africans get together to celebrate their diverse cultures, traditions and beliefs. You’ll most likely find people enjoying a braai (barbecue) and dressed in traditional garb.