{"id":47214,"date":"2023-04-17T22:30:57","date_gmt":"2023-04-17T22:30:57","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started"},"modified":"2023-04-17T22:44:26","modified_gmt":"2023-04-17T22:44:26","slug":"state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started","title":{"rendered":"State has given Eskom half a trillion rand since load shedding started"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Eskom will have received close to half a trillion rand in state support almost two decades since it started imposing debilitating nationwide blackouts in 2008.<\/p>\n

The series of cash injections and a planned takeover of a portion of Eskom\u2019s loan portfolio will amount to R495.6 billion in the fiscal year through March 2026, the National Treasury said in response to emailed questions. The figure includes Finance Minister Enoch Godongwana\u2019s R254 billion relief package for Eskom, which was announced in February and hinges on the debt-laden company meeting pre-determined performance targets meant to wean it off its reliance on public finances.<\/p>\n

Godongwana on Friday ruled out any further cash injections for the company that\u2019s struggling to produce enough power to meet demand. That\u2019s despite calls from the newly appointed Electricity Minister Kgosientsho Ramokgopa for more fiscal support to ease outages, known locally as load shedding.<\/p>\n

Straying from the latest debt-relief plan would test the credibility of South Africa\u2019s fiscal framework and budget processes in a country with a full house of junk credit ratings. It would also rattle investors who have placed a premium on the currency because of the slow pace of economic reforms, severe power rationing and logistics-network constraints that are eroding the nation\u2019s growth prospects.<\/p>\n

The rand has weakened more than 6% against the dollar this year, making it the worst performer in a basket of 16 major currencies tracked by Bloomberg.<\/p>\n

Eskom has subjected the country to blackouts for all but one 24-hour cycle this year. The severity is expected to increase during the South African winter that runs from June through August. The intense outages that limit people\u2019s ability to heat and light their homes and cook food in the colder months may stoke discontent in a nation where there\u2019s growing anger over the government\u2019s failure to deliver basic services, according to analysts.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Eskom will have received close to half a trillion rand in state support almost two decades since it started imposing debilitating nationwide blackouts in 2008. The series of cash injections and a planned takeover of a portion of Eskom\u2019s loan portfolio will amount to R495.6 billion in the fiscal year through March […]<\/p>\n","protected":false},"author":84,"featured_media":47213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,127,303,275,2150],"class_list":["post-47214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-eskom","tag-load-shedding","tag-south-africa-2","tag-treasury"],"yoast_head":"\nState has given Eskom half a trillion rand since load shedding started - South Africa<\/title>\n<meta name=\"description\" content=\"Eskom will have received close to half a trillion rand in state support almost two decades since it started imposing deb ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State has given Eskom half a trillion rand since load shedding started\" \/>\n<meta property=\"og:description\" content=\"Eskom will have received close to half a trillion rand in state support almost two decades since it started imposing deb ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-17T22:30:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-17T22:44:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1681754468.30.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"State has given Eskom half a trillion rand since load shedding started\",\"datePublished\":\"2023-04-17T22:30:57+00:00\",\"dateModified\":\"2023-04-17T22:44:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started\"},\"wordCount\":336,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1681754468.30.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"Eskom\",\"load shedding\",\"South-Africa\",\"treasury\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/state-has-given-eskom-half-a-trillion-rand-since-load-shedding-started\",\"name\":\"State has given Eskom half a trillion rand since load shedding started - 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