Eskom borrows R33.4 billion from China (backed fully by you, the taxpayer)

China's President Xi Jinping and President Cyril Ramaphosa at the Union Buildings in Pretoria on 24 July 2018. Picture: @PresidencyZA/Twitter

Typically, the Chinese have a geopolitical approach… it could well be a package of Ts and Cs…

Dr Iraj Abedian, Pan-African Investments and Research Services

This is invaluable… provided Eskom uses this to turn the business around… Eskom has zero margin for either business mistakes or any kind of misconduct that we have seen in the past…

Dr Iraj Abedian, Pan-African Investments and Research Services

Eskom will borrow R33.4 billion rand from China Development Bank.

The loan is fully Government-backed.

Even after this loan, Eskom still needs to find a third of its funding requirements for the year from somewhere.

Eskom relies on Government guarantees to service its debt of about R368 billion.

The Money Show’s Bruce Whitfield interviewed Dr Iraj Abedian, CEO at Pan-African Investments and Research Services.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

There’s a great deal of opportunities in the Chinese market opening up… particularly with the United States going rogue…

Dr Iraj Abedian, Pan-African Investments and Research Services

We still have obstacles in the way of independent [electricity] producers…

Dr Iraj Abedian, Pan-African Investments and Research Services

Thank God that eventually we have a board that says, ‘This is the quantum of looting that took place’…

Dr Iraj Abedian, Pan-African Investments and Research Services

That has to be recovered [from Gupta-linked Trillion]…

Dr Iraj Abedian, Pan-African Investments and Research Services

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