Eskom support package to be unveiled in coming days – Ramaphosa

South Africa will in the coming days unveil a package of measures to shore up state-owned Eskom’s finances and address structural issues facing the struggling power firm, President Cyril Ramaphosa said on Tuesday.

“In the coming few days we will be announcing a package of measures to stabilise as well as to improve Eskom’s financial, operational as well as structural position, and to ensure security of energy supply for the economy,” Ramaphosa told a mining conference in Cape Town.

“We will not allow Eskom to fail,” he added.

Ramaphosa is trying to turn around the ailing company – which supplies more than 90% of South Africa’s power but is drowning in R420 billion ($31 billion) of debt. 

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