'Eskom is going to run out of cash on the 31st of October'

During the State of the Nation Address, President Cyril Ramaphosa announced that Parliament will pass a Special Appropriation Bill on an urgent basis to help the financially strapped Eskom.

Eskom is unable to repay the R45bn of debt that falls due in 2019.

Clement Mayathela speaks to National Treasury director general Dondo Mogajane on the bill and when it will possibly be passed.

READ: President Ramaphosa makes 5 promises that, if kept, will radically transform SA

The reason why this bill is special and doesn't have to wait for October medium-term budget policy statement is that Eskom is going to run out of cash on the 31st of October.

Dondo Mogajane, Director general - National Treasury

It will be irresponsible of us not to come in as a responsible shareholder and patch the gap where needs be.

Dondo Mogajane, Director general - National Treasury

All we know is that Eskom has a R440bn-plus debt on its books. Both short-term and long-term debts.

Dondo Mogajane, Director general - National Treasury

Listen to the full interview below...


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