South Africa: Free State Municipality Hands Over Farms to Eskom As Security

16 September 2020

Matjhabeng Local Municipality in the Free State has agreed to hand over its 139 farms to Eskom as security for debt owed.

"In its ongoing efforts to recover more than R3.4 billion in unpaid debt owed by Matjhabeng Local Municipality, the municipality has agreed to hand over to Eskom 139 farms belonging to the municipality as security on the debt. The farms are valued at approximately R2.5 billion," said the power utility on Tuesday.

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