Fixing Eskom is about more than SA, AfDB says
INTERNATIONAL – South Africa’s struggling power utility must be fixed because energy security in the region largely depends on it, according to the African Development Bank.
Eskom Holdings SOC Ltd., which is buckling under 450 billion rand ($30 billion) of debt, is “too big to fail” because it powers Africa’s most-industrialized economy and much of the region, AfDB President Akinwumi Adesina said in an interview Sunday in Johannesburg.
The utility produces about 95% of South Africa’s power and almost half of the electricity used on the continent, according to its website, and it forms part of the interconnected Southern African Power Pool. Of its total energy sales, exports to the region make up 6%.
Source: iol.co.za