Eskom Posts First Profit in Eight Years, Seeks to Raise Debt

Eskom, the largest power utility in Africa, has reported its first full-year profit in eight years, despite ongoing challenges with debt owed by South African cities. The company is seeking to raise debt on the bond markets without government assistance within the next two years. The utility's improved financial performance comes as it continues to struggle with the growing debt owed by municipalities, which has been a persistent issue. Eskom is also preparing to enter the bond market independently, signaling a shift towards self-reliance and reduced reliance on government support. The article highlights Eskom's efforts to stabilize its financial situation, even as it navigates the complexities of managing its debt and securing its long-term viability. The reported profit is a positive development, but the utility still faces significant challenges in addressing its outstanding debts and securing a sustainable future.