Eskom Shocking News

Eskom has announced that it has secured a R20-billion short-term credit facility deal with a consortium of local and international banks.
Eskom said the government guaranteed facility will form part of the financing of the utility’s current capital expenditure programme.
Eskom further stated the terms of the facility are comparable to its existing facility agreements and pricing is aligned to market benchmarks of similar structures.
“We view the successful execution of this facility as a demonstration of the financial markets’ confidence in Eskom’s turnaround strategy,” interim Group Chief Executive Phakamani Hadebe said.
“We are cognisant of the challenges that are still ahead for the business and we are committed to ensuring that we expediently transition Eskom’s operational and financial profile to adequate standards.
“Eskom remains a critical enabler for South Africa’s economic growth and it is critical that we attain maximum operational efficiency for the business to avoid negatively impacting the macro-environment.”
Eskom acting chief financial officer Calib Cassim said the funding provides Eskom with sufficient liquidity to allow the company time to continue resolving its governance-related issues.
The parastatal adds it enables Eskom to recommence with its normal funding programme, required to execute the 2018/19 funding plan.

" i believe that the company eskom really has money for the fact that it can raise such amount in a short period of time  "


Check the news on the following links

http://www.enca.com/south-africa/eskom-secures-r20bn-deal-with-local-international-banks 

Comments

  1. Unknown1 March 2018 at 11:55

    This means South Africa do have money, when its able to secure 20 billion for only short-term period...

    ReplyDelete
  2. Siphesihle nomvalo3 March 2018 at 13:58

    As the fact that Eskom can announce 20 billion on short notice it means that south Africa has money

    ReplyDelete
  3. ceeyakayone9 March 2018 at 12:32

    South Africa must help other small businesses so that our economic growth could improve.

    ReplyDelete
  4. Ze'nonkeknows10 March 2018 at 08:33

    It seems like Eskom is always in need of financial assistance these days.
    I'd really like to know what they're going to do with that amount of money

    ReplyDelete
  5. Unknown13 March 2018 at 10:55

    eskom really has money and i wonder what they using the money for.

    ReplyDelete

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