- Municipalities are accruing debt to Eskom.
- National Treasury withheld equitable share transfers from 69 municipalities and offered a debt relief program for Eskom.
Godongwana announced the release of withheld funds as municipalities continue to fail to pay Eskom for services.
1 report, 1 independent
Updated Jul 28
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What happened
Godongwana announced the release of withheld funds as municipalities continue to fail to pay Eskom for services.
Who's involved
What this event is mainly aboutKeep exploring
The entities involved
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National Treasury
treasury of South Africa
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Eskom
electricity utility in South Africa
Related events
- Funding shortfalls are causing financial strain on Eskom and leading to issues with municipal solvency.
- President Ramaphosa supports the restructuring of Eskom assets, while the Development Bank of Southern Africa provides financial advice to the National Treasury.
- Eskom's high costs are negatively impacting the operational capacity of local government services.
- The World Bank lent money to Eskom for the Medupi project, while Eskom produces 80% of South Africa's electricity.
- National Treasury is withholding equitable share allocations in the Eastern Cape due to financial mismanagement.
Coverage
Newest first; wire copies grouped- businessday.co.zaTreasury to disburse funding withheld from errant municalities to protect residents