South Africa state asset sale to wrap up this month: Nene - CNBC Africa

South Africa state asset sale to wrap up this month: Nene

Southern Africa

by Reuters 0

S.Africa's Finance Minister, Nhlanhla Nene says state asset sale to wrap up this month. PHOTOS: GCIS

South Africa's government expects to conclude the sale of state assets to raise 23 billion rand (two billion US dollars) in financing for cash-strapped power utility Eskom this month, Finance Minister Nhlanhla Nene said on Thursday.

(READ MORE: S.Africa cabinet approves Eskom rescue package)

"We are anticipating the resources coming through during the month of June," Nene told Reuters on the sidelines of the World Economic Forum Africa in Cape Town. The government was "on track" to meet its capital-raising target, he added.

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