Hikes alone won’t guarantee Eskom’s viability, warns AGSA as it releases alarming audit findings

On the eve of the highly-anticipated announcement of Eskom’s tariffs for the coming three years, the Auditor-General South Africa (AGSA) has warned that tariff increases will fail to improve the State-owned company’s financial viability unless they are accompanied by dramatic improvements to revenue management and controls. It also warns of unintended consequences for municipal indebtedness and illegal connections, given growing affordability concerns.
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Plan to get electricity to more Africans wins $8-billion in new pledges

An initiative to connect 300-million Africans to electricity in the next six years has won new pledges worth more than $8-billion from lenders including the Islamic Development Bank and the Asia Infrastructure Investment Bank. The Mission 300 initiative, launched by the World Bank and the African Development Bank in April, is projected to cost $90-billion. Its implementation faces challenges because the economies of countries in the region are severely constrained, mainly due to sluggish revenue and high debt service costs.
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