Power utility ESKOM is looking to convert debt into equity for it's lenders
South Africa's power utility, Eskom, is looking to convert debt into equity for its lenders as a solution for its liquidity challenges. Eskom is struggling to recapitalise its business as its debt burden continues to worsen. Government has asserted that it is not in a position to bailout the utility, therefore the new leadership will have to find creative ways of reducing debt and building equity in the company. Eskom's debt currently stands at over 300-billion rand. Naledi Ngcobo reports..