Eskom CEO bemoans slow pace of talks on cutting R402bn debt

Talks about reducing the South African state power utility’s R402-billion debt to a manageable level are taking too long, its CEO Andre de Ruyter said. Eskom Holdings, which produces most of South Africa’s power, can’t meet its running and debt service costs and is dependent on government handouts to keep operating. It also needs to borrow more money to help it transition away from the polluting coal-fired plants used to produce the bulk of its electricity.