Mboweni said that Eskom will be allocated R26 billion this financial year and R33 billion in the 2020/21 financial year. This was in addition to the R23 billion lifeline extended to the cash-strapped power utility in the February budget.

"Although the government has committed R23 billion to be allocated to Eskom over the next three years in the current fiscal framework, Eskom's funding plan is dependent on their ability to raise additional finance from the market, which in turn requires them to be a going concern," Mboweni said.

"It is therefore important to note that the proposed financial support for 2019/20 and 2020/21 financial years addresses the going concern status and enables Eskom to honour its obligations."

African News Agency (ANA)