South Africa Reduces Eskom Debt Relief Package

Eskom is now in a much better financial position than in 2023 when the debt relief was originally announced. As a result of these improvements, we have decided to simplify the final phase of the debt relief package, national treasury said in a revised annual budget.

Instead of taking on R70-billion of debt, national treasury will give Eskom R50-billion in loans.

The government previously reduced its support package by R4-billion after the utility failed to meet a deadline to dispose of its Eskom Finance Company.

Eskom said in December that it expected to turn profitable in 2025, its first profit in eight years.