‘even private pensions’ should put cash into Eskom’ Ramaphosa

South Africa’s President Cyril Ramaphosa says ‘even private pensions’ should put cash into Eskom’

During an engagement with the SA National Editors Forum (Sanef), Cyril Ramaphosa addressed concerns about an ANC plot to use public pension funds to plug the financial black hole at Eskom – claims that the head of state doubled-down on.

He told the media that Eskom is now “a reformed entity”, and boasted of the restructuring that had gone on at the firm over the past two years. He explained his position, stating that all elements of state capture had been eliminated from the utility – making this a “safe investment” for the PIC fund:

“It’s understandable that people are concerned about the use of government pension funds to reduce debt. But this will happen under an Eskom that is reformed, restructured, reformed and rebuilt. It will be corruption free and a utility that is free from state capture”

“The Eskom we are going to have moving forward is a different type of company, different to what we have had in the past 10 years. Even private pension funds should put money into this version of Eskom.”

“The world is going through another moment of major uncertainly. We are going to be affected quite negatively by the coronavirus as it spreads and the impact that it could have on the health of our people, which will be guarding against as much as we possibly can.”

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