South Africa: Parliament - Eskom and SAA Crises in Focus Once More

analysis

If the Government Employees Pension Fund were to be approached to take on R250bn of Eskom's R450bn debt, it may just say 'yes - if it's 'a good deal'. But it's a bit more complicated.

Government Employees Pension Fund (GEPF) principal executive officer Abel Sithole was careful on Wednesday not to jump the gun when asked, repeatedly, by MPs about the Eskom bailout.

No-one had come to talk about the pension fund and until there was a firm proposal it would be difficult to say anything definitive.

"The reason we can't categorically say we will not consider it, it may well be that an approach is made that is perfectly reasonable. It may well be that a very good deal is presented to the GEPF," said Sithole.

"It might be untoward of the GEPF to dismiss it outright. If it would benefit the GEPF, we would not be doing our work if we do not consider it."

The GEPF has an eye for making a good deal at Eskom. It's on public record it made R30-million in interest in early 2018 after, controversially, agreeing to a R5-billion one-month bridging facility through the PIC.

But the Eskom bailout proposal is not...

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