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Finance Minister Malusi Gigaba. Photo: DoC

Finance Minister Malusi Gigaba. Photo: DoC

Finance Minister Malusi Gigaba says South Africa’s Treasury cannot afford to bail out Eskom.

Speaking at a pre-WEF breakfast meeting in Johannesburg Gigaba warned that if Eskom was not dealt with urgently, the country’s economy could collapse by the time the South African delegation returns from the World Economic Forum (WEF) in Davos, News 24 reported.

Gigaba noted that action would be taken in the next few days to deal with the utility’s financial challenges.

Eskom has yet to release its interim results, a move that could see trading of its debt suspended on the Johannesburg Stock Exchange if these are not made public before the end of the month according to Reuters.

 

 

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