Budget Speech 2023

We are proposing a total debt-relief arrangement for Eskom of R 254 billion.

This consists of two components. One is R184 billion. This represents Eskom’s full debt settlement requirement in three tranches over the medium term. Second is a direct take-over of up to R70 billion of Eskom’s loan portfolio in 2025/26.

Because of the structure of the debt relief, Eskom will not need further borrowing during the relief period.

Government will finance the arrangement through the R66 billion baseline provision announced in the 2019 Budget, and R118 billion in additional borrowings over the next three years.