Eskom signs loan deal with AfDB
JOHANNESBURG - Eskom signed a 20-year loan for US500 million with the African Development Bank (AfDB) on Monday as part of its capital raising plans, a statement from the power utility and the bank said.
AfDB vice president Mandla Gantsho said that by supporting Eskom’s expansion programme, the AfDB would seek to address not only the energy problem in South Africa, but also the whole sub-region, as Eskom was expected to play an important role in some key regional programmes.
Eskom finance director, Bongani Nqwababa said the extent and timing of the AfDB loan, reinforced the extent to which institutions based on the continent could provide support which fostered growth.
Eskom is getting a major facelift after supplies from the utility stuttered earlier this year, due to increased power supply demand and an infrastructure that could not cope.
- Sapa
World Bank Eskom loan critical: Hogan
CAPE TOWN - If power utility Eskom does not secure the US3.75 billion loan it has applied for from the World Bank, the implications for South Africa’s economy are dire, Public Enterprises Minister Barbara warned on Friday
Wrapped in darkness
Regarding the complaints about the streetlights burning day and night in Modderfontein, try living in Krugersdorp.
Lit up day and night
I am getting very aggro about the street lights that are on day and night in and around Thornhill Manor and Lakeside in the Modderfontein area.
Eskom loan must be conditional: ID
JOHANNESBURG - The loan that parastatal Eskom wants from the World Bank must be conditional on the divestment of the ANC's Chancellor House company from Hitachi Power Africa, the ID said on Tuesday.
Waiting for Godi
The ruling party is going to benefit from Eskom’s increase, not the South African public.
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