Eskom Power
SA President Ramaphosa Finally Gives Greenlight for Private Companies to Boost Country’s Power Grid
Image sourced from SAFA /* custom css */ .tdi_4_c82.td-a-rec-img{ text-align: left; }.tdi_4_c82.td-a-rec-img img{ margin: 0 auto 0 0; } South African President Cyril Ramaphosa has announced that the SA government will finally lift the threshold for embedded generating electricity capacity from 1 MW to 100 MW in South Africa. This move will allow private households and businesses to self-generate power on a larger scale. Ramaphosa says that the increase in embedded generating capacity threshold is vital in creating new ambitious, bold and urgent responses to aid with the country’s ongoing energy crisis. “We are today announcing a significant new step in further reforming our electricity sector towards achieving a stable and secure supply of energy,” the President says. /* custom css */ .tdi...
Indebted Eskom Turns to Sukuk Market for Funding
Sourced from REVE South Africa’s embattled national power utility Eskom has new plans to issue a $58 million (R1 billion) sukuk bond in a bid to diversify funding sources as borrowing costs rise. According to spokesperson Sikonathi Mantshantsha, Eskom has appointed a new lead arranger “to work towards establishing timelines for the issue.” The power utility currently has over R450 billion in debt and has yet to announce further plans to ask the South African governments for additional capital injections. What is a sukuk? According to IOL, a sukuk is a Shariah-compliant investment and an attractive alternative to conventional bonds. For all intents and purposes a sukuk – Arabic for ‘investment certificate’ – is issued for the purpose of raising money for utilisation within a corporation or ...
