Eskom’s R20.7bn blowout strain SA’s finances

South Africa’s power utility Eskom said on Tuesday its annual loss widened to R20.7 billion ($1.46 billion) in the 2018/19 financial year, from R2.3 billion in the previous year.

Eskom is Africa’s largest public utility and South Africa’s most indebted state firm. The higher loss was partly driven by a steep increase in debt-servicing costs and fuel costs.