According to economists, investors are preparing for D-day for Eskom. South Africa is currently doing better in financial terms than Nigeria, Turkey and Lebanon. Foreign investors have sold more than R25bn of the country’s shares and the Rand is among the five worst performing currencies against the Dollar. Even Ramaphosa acknowledged that the situation at..
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Foreign investors sell R25bn worth of shares in SA
Eskom on the verge of financial ruin and cannot cover its interest payments
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Ted Blom, an energy expert, said in an interview that Eskom is on the verge of financial ruin. The remark from Blom follows after the promised loan from China to Eskom did not materialize. Currently, Eskom is selling too little electricity to cover its operational costs and interest payments. Pravin Gordhan believes Eskom will take..
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No end to SAA’s nightmares
SAA cash crunch deepens as suppliers have still not been paid
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South African Airways (SAA) appears to have exhausted its available cash reserves following news that suppliers have still not been paid for work done in July. The airline has thirty-day terms with a number of suppliers that provide essential services to it. They had not been paid at the end of last week, a week..
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