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Special Appropriation Bill passed, opens doors for Eskom’s cash injection

SABCNEWS Parliament - Special Appropriation Bill passed, opens doors for Eskom’s cash injection

The National Assembly has passed the Special Appropriation Bill aimed at giving a massive capital injection to Eskom to the tune of R59 billion over two years. The Bill will now be sent to the National Council of Provinces for concurrence.

Finance Minister Tito Mboweni, however, says the challenges facing the power supplier are not only about a healthy balance sheet, but also capacity.

He says Eskom needs to appoint correct people. “One of the key issues that we need to solve is by appointing the correct people to run Eskom that’s what we need to do. We must appoint the correct board of directors, we must appoint a competent management team and we must be in a position to hold them accountable. The problem at Eskom is not just finances and if we are reducing it to money we are not solving it.”

Click below for more on the Special Appropriation Bill.

 

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