Saturday, August 18

Eskom signs $2.5 billion loan agreement with China Development Bank

0

Eskom today signed a $2.5 billion (about ZAR33 billion) loan agreement with the China Development Bank at a signing ceremony held in Pretoria, South Africa.

The facility will form part of the funding of Eskom’s build programme and specifically the Kusile Power Station.

This long-term government guaranteed facility will allow Eskom to draw down on the facility up to a period of five years from the effective date.

“China Development Bank remains a valued partner and a key contributor to the progress achieved by Eskom in executing the current build programme. This agreement cements Eskom’s long-standing relationship with China Development Bank. We view the conclusion of this facility as a demonstration of financial markets confidence in Eskom’s path to recovery and the plans to transition the company towards sustainability,” said Phakamani Hadebe, Eskom Group Chief Executive Officer.

“The successful conclusion of this facility brings Eskom in line with the company’s commitment to imminently secure 62% of the financial year 2018/19 funding requirement, as communicated at the results presentation on 23 July 2018. Both local and international financial markets have demonstrated an improved appetite for Eskom’s credit and we are confident that we will fully execute the required funding for the year. Our liquidity levels are continuing to improve and our financial sustainability is on the mend,” said Calib Cassim, Eskom Acting Chief Financial Officer.

Share.

About Author

Thabo Mphahlele is the BizNis Africa Head of Sales and Marketing. Mphahlele was previously MultiChoice Production Support Analyst responsible for developing and monitoring applications. In addition, Mphahlele develops and automates batch scripts and is responsible for the daily infrastructure maintenance at MultiChoice. As a Production Support Analyst, he is responsible for incident analysis solving , developing and constructing business reports for SQL and Oracle and implement change controls for the business. Additional responsibility includes monitoring system performance via SOA, Kibaba (Elasticsearch), H.P BSM, HP Sitescope. Mphahlele is responsible for creating infrastructure performance reports through HP Ops Analytics, monitoring payments via Splunk and in-house built-in tool and disaster recovery simulation and testing. At Nashua Mobile, he was responsible for application development and enhancing the web sites At South West Gauteng College, he was the IT Technician and Network Administrator. During his tenure at Double Digit Media, he was he focused on application and web site development for new and existing clients Mphahlele contributes as a Content Manager for BizNis Africa.

Leave A Reply