President Cyril Ramaphosa says Eskom will not be sold or privatised. Ramaphosa said privatising Eskom would be similar to selling it.
“We are not selling it, we want Eskom to be competitive like others power supply in the world,” he said.
The President officially signed a certificate to allow another completed unit of Medupi power station to operate and supply power to the grid. Speaking in Lephalale, Ramaphosa heaped praises on all involved in the construction of the fourth largest power station in the world.
“This certificate is to allow Eskom to commercialize and operate another completed unit. Though the project took time but however it will be fully running next year March,” he said.
“On the energy site our country is the biggest power producer in the continent. We have the biggest challenge which is debt. In building these stations we had to borrow money.”
Eskom owes R400bn in debt. Our economy is not working at the rate we want,” he said.
He addressed more than 300 Medupi workers on the government plans to remove risk of debt at Eskom. He was accompanied by his cabinet ministers including Public Enterprises Pravin Gordan, energy and mineral resources Gwede Mantashe and Minister in the presidency Jackson Mthembu.