South Africa's power utility Eskom would have defaulted without PIC loan
By Respect Gwenzi, Feb 14, 2018
South Africa's Public Investment Corporation (PIC), Africa’s biggest investment fund, said on Tuesday that without a 5 billion rand ($420 million) loan it advanced to cash-strapped utility Eskom, the utility would have defaulted on its existing debts with lenders.
The PIC, which holds a large chunk of government bonds and stakes in leading South African companies, said last week it had given the country's sole power supplier the loan to fund the utility's operations in February.
-Reuters

Top Stories
Zimbabwe's Inflation Soars in April, Both M-o-M, Year-on-Year: A Comparative Analysis with SADC Neighbours
Zimbabwe’s 2025 April inflation increased both in USD and ZiG terms, with ZiG annual inflation skyrocketing according to the lates data from Zimstat. The Zimbabwe Gold (ZiG) launched in April 2024, r
1 day agoZimbabwe Courts Western Creditors for $2.6 Billion Bridge Financing, But Policy Gaps Stall Progress
Zimbabwe is pursuing $2.6 billion in bridge financing to clear $6.7 billion in arrears, a critical component of its $21 billion public debt, equivalent to 96.6% of its 2023 GDP (World Bank, 2024). Fi
1 day agoRBZ Repeal Penalties on Pricing Above Official Rate Under SI 34 of 2025: Analysing ZiG and Exchange Rate Policy Shift
Government has repealed Statutory Instrument 81A of 2024, which penalised businesses for charging goods and services above the official exchange rate set by the Reserve Bank of Zimbabwe (RBZ). This p
Apr 17, 2025