Masondo proposes that the debt should be written off in exchange forEskommeeting its climate targets.
As guarantees for future borrowing, Eskom would have to retire coal-fired units., according toFin24.
On July 30, Masondo initially mentioned the notion of forgiveness as a solution to Eskom’s debt crisis.
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He didn’t go into much detail at the time of his initial proposal.
This would effectively leave the residents still owing the power utility R7.5 billion.
Soweto is among the top 20 municipalities in debt to Eskom.
Deputy Finance Minister David Masondo proposes that Eskom’s R146 billion debt should be forgiven by investors. Images: Dwayne SeniorSource: Getty Images
The Soweto Electricity Crisis Committee believes that the figures presented by Eskom are rough estimates.
The committee wants Eskom to write off the entire amount, according toeNCA.
Source: Briefly News
Lebogang Mashego (Current Affairs HOD)Lebogang Mashego runs the Current Affairs desk.
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She joined the Briefly News team in 2021.
She has 6 years of experience in the journalism field.
She worked as a lifestyle writer and editor at W24 and Opera News.
She graduated with a BA degree majoring in Journalism and Media Studies in 2017.
She’s a recipient of the INMA Elevate Scholarship.
