Eskom is technically bankrupt and will not survive until May 2019, if it does not receive urgent financial assistance. The power supplier will have to shut down its coal furnaces if it does not obtain sufficient financial support from elsewhere.
In a document released by the Department of Public Enterprises, it is acknowledged that Eskom can operate at the most until April 2019.
In the document, Eskom’s debt burden is set at 15% of the country’s total debt burden, which means that the entity is technically bankrupt and without competent people at the helm it will never recover.
Read the original article in Afrikaans on Die Vryburger
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