Ramaphosa says Eskom's new power plants are 'crown jewels' and won't be sold

President Cyril Ramaphosa has shut down the proposal by his Finance Minister Tito Mboweni to sell some of Eskom's power stations to help settle its debt.

Ramaphosa insisted that the embattled power utility would not be privatised, despite its financial problems.

The Daily Maverick's Sikonathi Mantshantsha offers his reading of Ramaphosa's remarks on Thursday.

He said Eskom would not be selling Eskom's new power stations. Ramaphosa actually called Medupi and Kusile power stations crown jewels of Eskom.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

They will not be sold. Neither will the old power stations that are just about to reach the end of their generating life.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

In other words [he's said], Tito Mboweni whatever you're smoking on your farm in Limpopo, we are not selling these power stations.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

Eskom only owes about R450 billion.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

Listen for more on The Finance Week That Was:


This article first appeared on CapeTalk : Ramaphosa says Eskom's new power plants are 'crown jewels' and won't be sold


Recommended

by NEWSROOM AI
Read More
Eskom wants Deloitte to pay back more than R200m from irregular tender deals

Eskom wants Deloitte to pay back more than R200m from irregular tender deals

The power utility goes after consulting firm Deloitte for contracts it was improperly awarded by previous Eskom execs in 2016.

Aviation Authority mum on core reasons for grounding SAA, Comair - Guy Leitch

Aviation Authority mum on core reasons for grounding SAA, Comair - Guy Leitch

Flights were grounded after a recent audit of the maintenance and technical service provider to Comair and SAA.

Is your phone ruining your sleep? You could be at higher risk of a car crash

Is your phone ruining your sleep? You could be at higher risk of a car crash

A new study on sleep deprivation suggests that a lack of quality sleep can have serious knock-on effects.

Who's filling the Eskom CEO job? Sikonathi Mantshantsha has some ideas

Who's filling the Eskom CEO job? Sikonathi Mantshantsha has some ideas

Public Enterprises Minister Pravin Gordhan is expected to make an announcement about the appointment sometime in October.

Eskom pulls the plug on load shedding rumours

Eskom pulls the plug on load shedding rumours

The power utility says it hasn't issued any warning to municipalities about possible power cuts, contrary to claims made by the DA.

DA says Eskom is keeping SA in the dark about looming load shedding

DA says Eskom is keeping SA in the dark about looming load shedding

Is load shedding on the cards again? DA MP Natasha Mazzone has called on Eskom to be transparent about the possible blackouts.

Popular articles
DA to decide if Herman Mashaba will serve his notice period or get cut loose

DA to decide if Herman Mashaba will serve his notice period or get cut loose

It's reported that some senior members of the Democratic Alliance want Mashaba's membership terminated with immediate effect.

'Audit found Mango and Comair planes were signed off by unqualified persons'

'Audit found Mango and Comair planes were signed off by unqualified persons'

The South African Civil Aviation Authority explains some of the findings of its maintenance audit at SAA Technical.

'I want to ensure my money delivers change to as many people as possible'

'I want to ensure my money delivers change to as many people as possible'

Black Business Council president Sandile Zungu on his attitude toward money (hopes and fears, successes and failures, etc.).

'Mbete faced difficult questions. She has done a lot in terms of responding'

'Mbete faced difficult questions. She has done a lot in terms of responding'

Xolani Xala (SA Business Abroad) defends his defence of ANC stalwart Baleka Mbete’s "car crash" interview on Al Jazeera.

[WATCH] Oprah roasts student about his cracked phone, then buys him a new one

[WATCH] Oprah roasts student about his cracked phone, then buys him a new one

Khabazela shares tweets and Facebook posts that have gone viral.

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

Portfolio Manager Byron Lotter shares his stock picks of the week with Bruce Whitfield on The Money Show.

[WATCH] Toddler upset that mom didn't give him a goodbye kiss, is so adorable

[WATCH] Toddler upset that mom didn't give him a goodbye kiss, is so adorable

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Boy explaining what he heard when parents had sex goes viral

[WATCH] Boy explaining what he heard when parents had sex goes viral

Khabazela shares tweets and Facebook posts that have gone viral.