Report indicates that France is preparing to give aid to Eskom

Report indicates that France is preparing to give aid to Eskom

- It looks like France is considering being Eskom's knight in shining armour

- A report indicates that the European country wants to help the utility with some financial support

- This comes after Eskom has informed South Africans that load-shedding cannot be avoided

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A report by Business Times claims that France is thinking about giving SA's struggling power utility, Eskom, financial support.

As plans are underway to restructure the crippled state-owned entity, which has racked up a massive debt of R450 billion, this news is welcomed.

Briefly.co.za gathered from News24 that France is planning different ways of helping Eskom with its development agency that is ready to give financial assistance.

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The report quoted Aurelien Lechevallier, the French ambassador to South Africa, as saying:

"The support would likely be structured as a multi-partner loan that could potentially include other nations such as Germany and South African development banks."

Very recently, Eskom has warned South Africa that it's either loadshedding or total blackout.

Meanwhile, it was also reported that Eskom is reportedly owed millions of rands by three neighbouring countries.

These countries, Zambia, Zimbabwe and Mozambique, owe the energy supplier more than R600 million and one of the debts owed are being disputed by debtors.

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Source: Briefly.co.za

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