We need a sustainable solution to our debt - Eskom CEO André de Ruyter

|

Matshepo Sehloho

96 days ago
We need a sustainable solution to our debt - Eskom CEO André de Ruyter Eskom CEO Andre de Ruyter. Picture: @Eskom_SA/Twitter

On Tuesday, Eskom released its results for the financial year ended March 2021.

The power utility reported that it reduced gross outstanding debt by R81.9 billion, with government support of R56 billion contributing towards debt servicing.

RELATED: Eskom reduces debt by R82bn, but current level unsustainable - André de Ruyter

The company is sitting on a mountain of debt even though an 8.76% tariff increase revenue growth improved to R204.3 billion.

Bongani Bingwa chats to Eskom CEO André de Ruyter to reflect on the utilities financial year end results.

We need a sustainable solution to our debt, we pay more in net debt service costs, that we generated cash. So our interest bill is higher than the cash we earn from our operating activities.

André de Ruyter, CEO - Eskom

That is why the utility is engaging with various departments to see how it can resolve its debt, he adds.

He says the company is also working with municipalities in restoring their debts.

Listen below to the full interview:

This article first appeared on 702 : We need a sustainable solution to our debt - Eskom CEO André de Ruyter

Recently heard on air

Jennifer Lopez - Jenny from the Block (Track Masters Remix featuring Styles & Jadakiss)

LISTEN TO 947 LIVE
ON AIR Ayanda MVP NOW PLAYING Jennifer Lopez - Jenny from the Block (Track Masters Remix featuring Styles & Jadakiss)
LISTENING TO
Recently played