Ramaphosa expected to make Eskom announcement

CAPE TOWN - President Cyril Ramaphosa will announce measures to prevent Eskom from shutting down in April.

On Wednesday, the Public Enterprises Department told Parliament the power utility is technically insolvent due to high levels of debt.

Minister Pravin Gordhan says he's hoping the electricity crisis will be over in 10 days' time.

READ: Eskom technically insolvent

A subdued Gordhan told MPs that the current electricity crisis is the fallout from years of looting, corruption and mismanagement at the parastatal.

Ramaphosa meanwhile has got to try to fix the parastatal urgently.

Eskom's immediate future lies in the hands of Finance Minister Tito Mboweni who will tell South Africans what it's going to cost to keep going at his budget speech next week.

READ: Eskom lying to the public: Analyst

On Wednesday, Cosatu marched against job losses and the state of Eskom.

The union says it’s not enthusiastic about anything the president is going to announce.

Cosatu spokesperson Sizwe Pamla said, “he’s been promising these solutions since 2014, we’re not really excited, we’re patient enough.”

Source
eNCA