Eskom gets R16bn tranche of State help with debts

South Africa’s Treasury has paid R16-billion to heavily indebted power utility Eskom, the first tranche of a debt relief package that will wipe off more than half its liabilities, acting CEO Calib Cassim said on Tuesday. The Treasury offered a total of R254-billion to the State-owned company in February so it can pay its debts to global financial institutions, which currently top 423 billion rand.