South Africa’s PIC gives loan to Eskom to fund Feb operations

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    South Africa’s Public Investment Corporation (PIC) has given cash-strapped state power firm Eskom a 5 billion rand ($416 million) loan to fund the utility’s operations in February.

    The sole power supplier in Africa’s most industrialised economy has said it is not insolvent but was facing serious liquidity issues.

    Eskom is emerging from a leadership crisis and appointed a new board of directors last month.

    Source-Reuters

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