South Africa
Eskom to spin off transmission business by end 2021─── 10:38 Tue, 16 Feb 2021
According to CEO André de Ruyter, Eskom aims to complete the legal separation of its transmission unit by the end of 2021, with the generation and distribution units following in 2022.
President Cyril Ramaphosa announced a plan to divide the cash-strapped utility into three units in 2019, but the process has stalled and loadshedding has continued, damaging the already fragile economy.
The plan to split the company, which is battling heavy debts and failing coal-fired plants, is designed to smooth the firm’s access to capital markets.
Moneyweb
