Eskom to tap global bond markets

South African power utility Eskom aims to issue bonds in the United States and Europe this year as part of a plan to raise up to $6,9-billion over the next three years, a top executive said on Tuesday.

Eskom, which uses mainly coal-fired power stations to supply most of the power to Africa's largest economy, needs funding for a planned multi-billion dollar programme to help alleviate chronic power shortages.

The utility is waiting for government approval of its plan to raise R45-billion to R50-billion over the next three years, Paul O'Flaherty, Eskom's finance director, told Reuters on the sidelines of a parliamentary briefing.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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