South Africa can fix the balance sheet of its loss-making power utility by transferring its guaranteed debt to government’s balance sheet, according to the former CEO of Goldman Sachs Group in sub-Saharan Africa.
Seen as the biggest risk to the nation’s economy, Eskom has received R133 billion in bailouts since 2008 and is due to get another R112 billion over the next three years.
Instead of sinking that money into a hole, the utility’s guaranteed debt should be moved on to government’s books after negotiating for better terms with bondholders, Colin Coleman, who is now a senior fellow at Yale University’s […]
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