Eskom has raised R76.1-million from the sale of two buildings as part of a strategy to free up cash through the disposal on non-core assets, and more properties are expected to be sold.
The buildings in Kimberley and Johannesburg were sold to the Department of Human Settlements, Water and Sanitation and will be converted into housing blocks, the power utility announced on Tuesday.
Advertisement
Eskom, which is saddled with nearly half a trillion rand in debt, boasts an extensive portfolio of properties and plans to raise more than R2-billion from the sale of non-core property. The property disposal process is in line with Eskom’s unbundling process and its bid to raise capital.
Daily Podcast – April 13, 2021.
Search Polity
Note: Search is limited to the most recent 250 articles. To access earlier articles, click Advanced Search and set an earlier date range.
To search for a term containing the & symbol, click Advanced Search and use the search headings and/or in first paragraph options.
With.
Clear Search
Sponsored by
Sponsored by
Daily Podcast – April 13, 2021
To play this media please enable JavaScript, and consider upgrading to a web browser that supports HTML5 media
Sane Dhlamini.
Making headlines: ANC provincial secretaries have until Thursday to compile lists of members tainted by corruption, JSC feels no pressure to finalise
Pic: Eskom logo
As part of its efforts to raise funds from the disposal of non-core property, South Africa’s state owned energy utility, Eskom, has announce the sale of two buildings to the Department of Human Settlements, Water and Sanitation, which will help relieve some of the accommodation pressures faced by university students and for social housing.
The sale of these two high rise office buildings in Kimberley and Johannesburg has raised R76.1 million for Eskom, part of Eskom’s approved strategy to responsibly dispose of non-core immovable properties. In total, Eskom aims to raise more than R2 billion from the sale of non-core property.
As part of its strategy to responsibly dispose of non-core immovable assets, Eskom has announced that it has raised R76m following the sale of two properties.