A turnaround in the finances of South Africa’s Eskom Holdings has won praise from investors but they are keeping their eyes on one issue — the company’s struggle to recoup about R95-billion in unpaid electricity bills from cities and towns across the country. It’s a debt pile that continues to mount as municipalities themselves fall behind in collecting revenue from customers. With 95.4-billion owed as of November, the arrears could jeopardise Eskom’s plans to spin off its distribution unit, a move that it says is key to boosting efficiency and securing investment.
