Treasury will now charge interest on Eskom's R254-billion bailout

[Jan]

Huge change to Eskom's R254-billion bailout

Finance minister Enoch Godongwana has announced that Eskom’s R254-billion bailout will no longer be interest-free.

Godongwana announced in February that South African taxpayers would take over more than half of Eskom’s debt.

 

[mpdjhb]

Oh phew - was worried it would be misappropriated

 

[Grieta Thanburg]

Huge change to Eskom's R254-billion bailout

Finance minister Enoch Godongwana has announced that Eskom’s R254-billion bailout will no longer be interest-free.

Godongwana announced in February that South African taxpayers would take over more than half of Eskom’s debt.

So we get half of the interest back via SARS, since we sponsored half of it? Right?

 

[Gnome]

What is the point of charging interest? It's like the one hand charging the other hand to help wash it with soap. Makes zero sense.

 

[Mike Hoxbig]

They'll bail them out of the interest that is owed to them and charge interest on that...

 

[Fuzzbox]

New MINISTER incoming.

 

[Fuzzbox]

What is the point of charging interest? It's like the one hand charging the other hand to help wash it with soap. Makes zero sense.

Well ESKOM does really make no CENTS.

 

[Paulsie]

They'll bail them out of the interest that is owed to them and charge interest on that...

View attachment 1611371

The current interest is owed to 3rd parties. This way it is owed to them. This way, they can throw bigger parties and pay for more t-shirts and buckets of chicken using taxpayers money.

 

[Petec]

Oh phew - was worried it would be misappropriated

And I was worried that instead of huge, it would be massive