A big ‘fuss’ is being made about China’s president, Xi Jinping, visiting the so called rainbow nation.
His “gift” of R33 billion to Eskom is seen as a breakthrough for investments in the country. However, the long term loan must eventually be repaid, with interest, and that sum has as yet not been be made.
The announcement follows briefly after the report that the entity made a net loss of R2,3 billion in 2018. By 2019, Eskom has to get R72 billion for capital projects and to repay a R20 billion bank loan.
The World Bank has already indicated that it will not grant further loans to coal power projects, so with this loan, the Chinese will only gain a further hold on the resources of the country as well as a disposal area for their population and goods.
It is known that where China invests, Chinese are imported as the labor market, and the expectation is that great unhappiness will arise once the first Chinese takes over any of the positions of the local population.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
