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Eskom seeks financial advisors

On separation into three units.
Image: Waldo Swiegers, Bloomberg
Eskom, the state utility that supplies most of South Africa’s power, said it’s seeking to appoint advisors on how to restructure itself into three separate units, a reorganisation that was proposed to let it to better deal with an untenable debt burden.The separation of the Johannesburg-based company into transmission, generation and distribution units was first raised by South African President Cyril Ramaphosa more than two years ago. The company has since reduced its liabilities but is still struggling to manage almost R400 billion in debt, and has subjected the country to intermittent power cuts since 2005.

The so-called request for proposals is in addition to an earlier notice seeking advisors on how to fund the closing and re-purposing of a number of the company’s coal-fired power stations into sites that could generate electricity from natural gas or renewable sources.

“The RFP is only for financial advisors to assist with Eskom’s legal unbundling and separation,” the company said in a response to questions.

© 2021 Bloomberg L.P.

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Just buy Crypto 🙂

…but crypto needs Eskom.

Wrong Headline

It should read “Eskom seeks Anti Corruption Advisors”

How to polish a turd..? Interestingly, according to the television program ‘Mythbusters’ it is possible for a piece of solid fecal matter to be polished – they did it on television. Maybe we need them or another television show where bosses go around their companies in disguise to try and see what is going on. I would pay to see De Ruyter in disguise finding – and hopefully fixing problems here..

End of comments.

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