Netwerk24 reports that even as there is great concern about Eskom’s cash flow crisis, the state-owned power utility has given the assurance that it will be able to pay salaries.
Spokesperson Dikatso Mothae said that while the group’s cash liquidity levels were below target, salaries would be able to be paid out of normal cash flows. Mothae also said that Eskom was committed to improving its liquidity levels and restoring positive investment and financial sentiment in order to unlock entry to financial markets. Mothae’s comments came after the Johannesburg Stock Exchange (JSE) on Monday threatened to suspend trading of Eskom bonds because the company had not issued its interim results on time. Eskom gave the undertaking that it would supply its results before the JSE’s deadline of 31 January. Analysts reckon that Eskom’s biggest hurdle is the refinancing of its debt. (Loosely translated from Afrikaans)
- Read this report by Francois Williams in full in Afrikaans at Netwerk24 (limit on access)
- Read too, Eskom bonds might face JSE suspension, at Moneyweb
- And also, Eskom in race against the clock, at Moneyweb
- As well as, Review of Nersa’s decision to grant Eskom a 5.23% tariff increase on the cards, at Moneyweb
Get other news reports at the SA Labour News home page