MINERALS Council South Africa welcomed the government’s intervention on Eskom’s debt and the financial encouragement to stimulate businesses building renewable energy projects by offering generous tax incentives as outlined in the 2023 Budget speech.
The Minerals Council believes there should be further support from the government in implementing the solutions being developed in the Transnet and Minerals Council Board Recovery Steering Committee to stabilise Transnet’s rail performance and return it to growth.
In his 2023 Budget speech, Finance Minister Enoch Godongwana tried to strike a balance between containing national debt and alleviating pressure on Eskom’s balance sheet by enabling the government to take on R254-billion of its debt, freeing up the State-owned company to conduct maintenance and invest in new electricity generation.
Eskom has recorded its worst performance in supplying electricity to the economy this year, disrupting businesses and households and damaging perceptions of South Africa. Interventions so far to address Eskom’s difficulties in sustaining a reliable electricity supply have not yielded results as loadshedding has worsened in recent days.
“While we welcome the financial measures
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