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Roadblocks circle Ramaphosa's plan to fix South Africa's Eskom

Reuters  |  JOHANNESBURG 

By Alexander Winning and Joe BrockJOHANNESBURG (Reuters) - South African President Cyril Ramaphosa's plan to split struggling state power utility Eskom is a positive show of intent to investors but a lack of detail has raised market concerns that concrete change will take years to deliver.Eskom, which produces over 90 percent of South Africa's electricity and employs 48,000 people, is a lynchpin of Africa's most developed economy but is drowning in $31 billion of debt.Facing a parliamentary election on May 8, Ramaphosa said on Thursday that to avert an economic crisis, Eskom's generation, ...

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First Published: Fri, February 08 2019. 18:28 IST
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