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South Africa's Ramaphosa says Eskom cannot be allowed to fail
Abstract：South Africa's President Cyril Ramaphosa used his state of the nation address on Thursday to pledge to speed up 230 billion rand ($16.11 billion) of support for ailing power utility Eskom, which he said was too vital to the e
CAPE TOWN (Reuters) - South Africa's President Cyril Ramaphosa used his state of the nation address on Thursday to pledge to speed up 230 billion rand ($16.11 billion) of support for ailing power utility Eskom, which he said was too vital to the economy to be allowed to fail.
Ramaphosa said Eskom's financial position remains a matter of grave concern.
“We will therefore table a special appropriation bill on an urgent basis to allocate a significant portion of the 230 billion rand fiscal support that Eskom will require over the next 10 years in the early years,” he said.
($1 = 14.2800 rand)
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