Only a national concerted effort can rescue Eskom and the economy

The South African and Internationally affected business sector is concerned that Eskom has reported R20.7bn net loss after tax and is struggling to service debt of more than R400bn.  This situation cannot be solved by the government and Eskom alone.  Other stakeholders such as the private sector should make a contribution as well. 

While considering bailouts for Eskom, we need to ponder at South Africa economic implications such as worsening the country’s fiscal and sovereign position; hikes of electricity tariffs; and the debt risk which unsettling manufacturing and mining investors. This happens at a time when the economy is barely growing, it is particularly damaging considering the fact that unemployment has reached a catastrophic 29%.

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