Daybreaker | Till debt do us part: Eskom says unbundling on track, but it may still need to borrow more

Lindiwe Zulu withdraws green paper on controversial state pension plan

View Online Daybreaker A snapshot of the day's business and economic news. AHMED AREFF, FIN24 DEPUTY EDITOR Till debt do us part: Eskom says unbundling on track, but it may still need to borrow more Eskom has an unsustainable debt burden of about R400 billion, but it can't rule out further borrowing - particularly from climate finance facilities - if it is going to finance much-needed infrastructure, according to CEO André De Ruyter.   De Ruyter was speaking on Tuesday during Eskom's financial results announcement for the year ended March 2021.   Eskom managed to slash its debt burden by R81.9 billion to R401.8 billion - mainly thanks to government equity support of R56 billion, a stronger rand exchange rate and tight cost control, De Ruyter said.   But debt servicing costs of R31.5 billion resulted in the utility recording a net loss of R18.9 billion.   Even though Eskom has an unsustainably high debt burden of about R400 billion, it still needs to borrow more in order to finance distribution and transmission infrastructure. For this, it is looking to climate finance. Read More Lindiwe Zulu withdraws green paper on controversial state pension plan The latest development follows an outcry after the paper proposed that all SA earners pay up to 12% of their earnings into a new government-managed investment fund. Fear of job losses grips coal mining towns as transition to clean energy gains traction Labour unions and communities in Mpumalanga mining towns are wary of the looming transition from coal energy to low-carbon sources, fearing the change would trigger job losses. MONEY CLINIC | I'm struggling to keep up with my home loan. What should I do? Are you struggling to keep up with payments on your home loan and facing possible foreclosure? Deutsche Bank cuts ties to Standard Bank's Zimbabwean unit Deutsche Bank has cut correspondent banking ties with Standard Bank Group's Zimbabwean unit, dealing a body-blow to one of the few remaining international banking providers operational in the southern African nation. Sifiso Ntombela | Most farmers are men, most farm workers are women - it's time we fixed that In SA, agriculture is a key sector that registered impressive growth even during Covid-19. That makes it even more important to prioritise opportunities for women to get a piece of the pie, says Sifiso Ntombela Brimstone done with 'weight loss in the gym' and ready to hit the road again, says CEO Investment holding company Brimstone has been "busy in the gym" and is now ready to hit the road again having shed excess weight, according to its CEO Mustaq Brey. DOWNLOAD THE NEWS24 APP CONNECT WITH US

Opt-out of this email • Manage Preferences • Update Profile • View PDF • Share • View Online This email was sent to newstrafik.LINK13@blogger.com on 01-09-2021 24.com is intended for opt-in communication only. If you feel this email is unsolicited, please report it to us