Government has allocated an extra R59-billion to ailing power utility Eskom over the next two years so it can service its debt. This is according to a special appropriation bill seen by Reuters.
In his State of the Nation Address, President Cyril Ramaphosa mentioned that government would draft the bill, which would allocate R230-billion to Eskom over the next 10 years.
The latest allocation, sourced from government’s National Revenue Fund, provides R26-billion for the 2019/20 financial year and R33-billion for 2020/21.
The bill also indicates that to promote transparency and the effective management of the amount, the Minister of Finance may impose conditions to be met by Eskom before any part of the amount is transferred. Finance Minister Tito Mboweni is expected to discuss the bill in Parliament on Tuesday.
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The case involves allegations of the gross neglect of animals on Modise’s Modderfontein farm…Read more here
Source: eNCA
