Eskom taps expanded state guarantee programme

Fresh support from the South African government has strengthened the borrowing leverage of power parastatal Eskom, as it seeks to maintain its building programme, writes Kevin Godier. Just weeks after South Africa’s Eskom successfully tapped a $1.75bn bond from global investors, Pretoria announced on 15 February that it would support Eskom’s R549bn ($78.9bn) build programme up to 2017 with a R350bn guarantee framework