South Africa's power utility Eskom would have defaulted without PIC loan
By Respect Gwenzi, Feb 14, 2018
South Africa's Public Investment Corporation (PIC), Africa’s biggest investment fund, said on Tuesday that without a 5 billion rand ($420 million) loan it advanced to cash-strapped utility Eskom, the utility would have defaulted on its existing debts with lenders.
The PIC, which holds a large chunk of government bonds and stakes in leading South African companies, said last week it had given the country's sole power supplier the loan to fund the utility's operations in February.
-Reuters
Top Stories
Global Seas Hit 21.1°C Peak in August : East Africa Braces for Floods as Southern Africa Fears Drought
Global sea surface temperatures reached 21.1°C on 22 August 2026, the highest daily reading in Copernicus records dating to 1979. The new peak exceeded the previous 21.09°C record set in March 2024 a
8 hours ago
