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Tag: debt

Eskom’s millionaire managers demand more money, crying ‘it’s unfair’

This comes days after Eskom announced a more than R20 billion net loss in the last financial year. Eskom has confirmed it has been taken to the Commission for Conciliation, Mediation and...

Standard Bank can’t deduct money from your account to settle debts anymore

Standard B ank has been prevented from deducting money from their customer's accounts to settle debts without their permission following last week’s High Court ruling in favour of the National Credit Regulator...

Eskom’s gain is SA’s pain as investors balk at debt

South African President Cyril Ramaphosa’s latest pledge to support Eskom is good news for the cash-strapped electricity company — but some investors are balking at the prospect of increased sovereign-bond issuance to...

Investors are riding an Eskom bonds bonanza

About 73% of the power utility’s bonds are guaranteed by the government, giving investors confidence to continue buying the debt. Eskom is groaning under more than $30bn of debt, and does not...

SA reportedly considers special purpose vehicle for Eskom

South Africa is considering the creation of a special-purpose vehicle as part of a restructuring of the country’s embattled state-owned power utility, which has almost R500 billion of debt, Business Day...

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‘Please Call Me’ Inventor Wants U.S.$656 Million from Vodacom

The inventor of Vodacom's Please Call Me service, Nkosana Kenneth Makate, has refused a U.S.$3 million (R47 million) settlement offer from the cellular service...

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