South Africa’s Eskom annual loss widens to $1.5 billion

Whatapp News

JOHANNESBURG – South Africa’s power utility Eskom said on Tuesday its annual loss widened to 20.7 billion rand ($1.46 billion) in the 2018/19 financial year, from 2.3 billion rand in the previous year.

Eskom is Africa’s largest public utility and South Africa’s most indebted state firm. The higher loss was partly driven by a steep increase in debt-servicing costs and fuel costs.

($1 = 14.1537 rand)