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S.Africa's Eskom to spin off transmission business by end-2021: CEO

President Cyril Ramaphosa announced a plan to divide the cash-strapped utility into three units in 2019, but the process has stalled and nationwide blackouts have continued

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Eskom has debt net debt of between 460 billion and 485 billion rand ($34 billion), and is likely to record another "substantial loss" in 2021, de Ruyter said in a live address on YouTube

Reuters

2 min read Last Updated : Feb 15 2021 | 9:42 PM IST

South Africa's state power firm Eskom aims to complete the legal separation of its transmission unit by the end of 2021, its Chief Executive Andre de Ruyter said on Monday, with the generation and distribution units following in 2022.

President Cyril Ramaphosa announced a plan to divide the cash-strapped utility into three units in 2019, but the process has stalled and nationwide blackouts have continued, damaging the already fragile economy.

The plan to split the company, which supplies over 90% of South Africa's electricity but is straining against the burden of heavy debts and failing coal-fired plants, is designed to

Topics : South Africa Cyril Ramaphosa

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