(Bloomberg) South Africa has identified three equity partners for the country’s bankrupt state airline and will make a decision on which one to pick in “the next month or so,” according to Public Enterprises Minister Pravin Gordhan.
Eskom faces more dark days as profits dwindle
Days after announcing that it will have to resume rotational power cuts, South Africa’s power utility has released a worrying statement about its financial standing. The state owned company says it has managed to make a small profit, coinciding with the winter months when it usually hikes tariffs. The power producer wasn’t lucky enough to escape the lockdown unscathed and saw a 10% drop in sales for the first half. A fourth consecutive year of financial losses looms as the company battles unsustainable debt levels and ageing infrastructure.- Melani Nathan
South Africa s Eskom Sees Fourth Annual Loss Amid Debt Woes msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.