CEOs of embattled Eskom and SAA step down – is it a case of dropping the ball? Or, a Ministerial over reach?

SOUTH AFRICA - Report 03 Jun 2019 by Iraj Abedian

Following South Africa’s May 8 general elections, Moody’s Ratings Agency published a post-election credit report on the country. It expects government’s debt burden to rise to 65% of GDP by 2023, increasing to more than 70% when taking into account guarantees to the debt-ridden Eskom. This deteriorating fiscal position, that has been worsened by the constant weakening of financial conditions in major state-owned companies, and therefore rising contingent liabilities, will continue to place pressure on South Africa’s financial stability.

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