South Africa: Mboweni's the Eskom Job - the Devil Lives in the Details

analysis

Finance Minister Tito Mboweni delivered an uncompromising Budget on Wednesday, cutting the public wage bill and closing the piggy bank for state-owned enterprises. But the tale on Eskom was not quite complete, not in rands and cents, nor in policy.

Eskom definitely gets R23-billion in the 2019 financial year, and the same for the next two years, or a total of R69-billion over the medium term to the 2021/22 financial year. This is for it to deal with its precarious finances, including its R419-billion debt and its restructuring into three entities under an Eskom Holdings umbrella body.

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