Earn 12% per anum
Tokenizing a real-world asset. Earn 12% interest per annum paid quarterly in arrears. Capital repaid annually at 8,34% on anniversary of investment. Tokens to be listed on 3 Exchanges. Investment secured by hard assets.
Eskom looks for R 884 billion
Eskom wants to raise as much as R884 billion in the next three years through a huge hike in power prices and potentially the biggest government bailout of a state-owned company in history.
If the utility gets the backing of the National Energy Regulator (Nersa), which started hearings nationwide this week, this will have a severe effect on the economy, including jobs losses and closures of vulnerable businesses.
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World Bank says Eskom simply too big to fail
The World Bank has argued that Eskom is too big to fail, and the South African economy would not withstand a financial meltdown of the cash-strapped power utility. "It is just too big to allow it to disintegrate, and fixing all these pieces will be costlier than trying to reform it," the bank’s country director for SA, Paul Noumba Um, said at the launch of the bank's 12th SA economic update on Tuesday in Johannesburg.
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We need
higher tariffs
to manage
debt, but it
won't solve the problem -Eskom CEO
skom CEO Phakamani Hadebe has said that higher tariffs will not solve Eskom's debt problems, entirely.
The CEO on Monday was responding to questions from the National Energy Regulator of South Africa (Nersa), which is conducting nationwide public hearings on two tariff applications from Eskom. The first relates to a 15% increase in tariffs for the next three years, while the second application relates to higher tariffs to recover losses from 2017/18.