Treasury says Eskom has two years to transform

By Doug Mattushek - 24 July 2019Views : 1970

Treasury director general Dondo Mogajane is adamant power utility Eskom must show significant changes within two years.

Part of the responsibility will fall on the shoulders of a yet-to-be-appointed Chief Reorganisation Officer (CRO). Their responsibilities at the embattled state-owned power utility include addressing it’s debt crisis, funding issues and determining what can be sold off.

"In two years we need to see a serious move," Mogajane told Fin24.

"We need focused decisions and views on what we need to do. The CRO will be finalising [the unbundling] in terms of taking forward the restructuring of Eskom. We need a detailed plan on it."

Finance Minister Tito Mboweni confirmed on Tuesday that he’d tabled a special appropriations bill that will provide R59 billion to Eskom to help with their substantial debt.