Holomisa says loadshedding was blackmail to make sure Eskom gets bailout

Holomisa says loadshedding was blackmail to make sure Eskom gets bailout

- The UDM leader claims Eskom used loadshedding to force government to give the utility more funds

- This comes as load shedding appears to have stopped

- Eskom is currently facing crippling debt, and will receive R69 billion over the next 3 years

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UDM's Bantu Holomisa says that the recent round of stage 4 load shedding was "blackmail" in order to ensure an Eskom bailout.

This comes after Tito Mboweni's announcement that Eskom would receive R69 billion over the next three years.

As evidence, Holomisa cited the disappearance of load shedding - which appears to having gone from stage 4 to nothing overnight.

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Eskom has reportedly been threatening to collapse under its almost R420 billion rand debt. The money allocated by Mboweni for the power utility will ease its debt problems and keep the utility afloat, but will add to total government debt.

As a result, Holomisa seems to view last week's load shedding as a ploy from Eskom to ensure it got the money. With elections around the corner, more weeks of load shedding may have dealt a devastating blow to the ANC's electoral support.

Additionally, the UDM leader accused Eskom of using "banana republic tactics" and of essentially blackmailing government with threats of load shedding, according to The Citizen.

READ ALSO: Economist claims Zuma's 2nd term cost SA R470 billion

Eskom had previously explained last week's load shedding by claiming that 6 generating units had failed. However, the swift disappearance of load shedding has some, like Holomisa, wondering if there is more to the story.

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Source: Briefly.co.za

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