Eskom to get extra R59bn from government
Finance Minister Tito Mboweni has confirmed an additional R59 billion lifeline for ailing power utility Eskom and that's on top of the R69 billion announced in February's budget. The money will come from the National Revenue Fund and is meant to assist Eskom in meeting its financial obligations during the current and next financial year, a move which is likely to increase government borrowing. How do ratings agencies view this move? Fitch already has the country at junk status and the organisation's Yeshvir Sigh joined Business Day TV on the line with his views.