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Eskom keeps investors in the dark as debt speculation mounts 

By: Bloomberg     22nd May 2019 As speculation swirls about plans to deal with Eskom Holdings’ crippling debt load, one group of stakeholders hasn’t been consulted – owners of the company’s R243-billion of bonds. South Africa’s State-owned power utility is groaning under almost R500-billion of bond and loan debt, according to... 

Mboweni bemoans 'madness' of Eskom debt  

By: Bloomberg     21st May 2019 South Africa’s embattled State power utility must prioritise collecting the money it is owed by municipalities as a first step toward becoming financially sustainable, Finance Minister Tito Mboweni said. Eskom Holdings has reported that municipalities owed it R17-billion in arrears for power... 

Mboweni poised to retain post 

By: Bloomberg     20th May 2019 Finance Minister Tito Mboweni is likely to hold on to his job for at least another year, as President Cyril Ramaphosa moves to re-assure investors and ratings companies that the economy is in good hands, according to two people familiar with the Cabinet selection process. The former central bank... 

Cabinet could be reduced by as many as nine departments and 15 deputy ministries

By: News24Wire      15th May 2019 President Cyril Ramaphosa could reduce his national executive by as many as nine departments and ministries when he announces the reconfiguration of his Cabinet soon. Although there is no official word from the Union Buildings on when Ramaphosa will announce the changes to his executive, furious... 

Unemployment rate rises to 27.6% in Q1

By: Tasneem Bulbulia     14th May 2019 South Africa’s unemployment rate increased by 0.5 of a percentage point to 27.6% in the first quarter of this year, Statistics South Africa’s (Stats SA’s) latest Quarterly Labour Force Survey (QLFS) shows. The increase in the unemployment rate is attributable to a decline of 237 000 in the number... 

Intellidex market research forecasts ANC will win with 57% of votes 

By: Marleny Arnoldi     3rd May 2019 Markets believe there is only a one-third chance of growth-boosting reform after the elections and that there is a 75% probability of President Cyril Ramaphosa remaining in his seat until 2022, at least, according to financial services research house Intellidex. Overall, the market anticipated... 

Eskom’s China loan facility not in jeopardy – Public Enterprises 

By: News24Wire      3rd May 2019 The Department of Public Enterprises says that power utility Eskom’s multi-billion rand loan facility with the China Development Bank is not in jeopardy, despite concerns sparked by a delay in the release of a R7-billion tranche of funds last month. The bank was meant to release the funds - part... 

Sars welcomes Kieswetter as new Commissioner

By: African News Agency      2nd May 2019 The South African Revenue Service on Wednesday formally welcomed Edward Kieswetter to his new role as the Commissioner of the revenue collector. Kieswetter commenced his duties on Wednesday, replacing disgraced erstwhile Sars boss Tom Moyane, who left behind a broken tax collection agency and a... 

NUM calls for reskilling of Eskom workers to equip them for clean-energy jobs  

By: Terence Creamer     30th April 2019 The National Union of Mineworkers (NUM) has called for greater attention to be given to the reskilling of Eskom workers “so that they can be absorbed” into clean-energy technology work opportunities. In a statement released following a meeting of its national executive committee in Gauteng, the... 

Cosatu wants facts before talks on Eskom job cuts

By: Bloomberg     26th April 2019 South Africa’s largest labour federation is prepared to discuss reducing workers at the nation’s power utility if it’s given proof of over-staffing and that job cuts would save Eskom Holdings. Until now, proposals to turn around the debt-ridden, loss-making utility have been met with fierce... 

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