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South Africa’s Eskom to publish financial results on Tuesday

PUBLISHED: Mon, 29 Jan 2018 14:23:53 GMT

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South African utility Eskom will publish interim financial results on Tuesday, the company said, in time to meet a Jan. 31 deadline set by the Johannesburg Stock Exchange, which had threatened to suspend trading in Eskom’s bonds.

Eskom is the sole power supplier in Africa’s most industrialised economy and delayed publication of its results late last year. The firm has been embroiled in a governance crisis and has been at the heart of allegations of undue influence in awarding tenders during President Jacob Zuma’s time in power.

International ratings agencies have regularly cited Eskom as a threat to South Africa’s strained public finances.

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Earlier this month the government named a new Eskom board and told the company to remove executives facing allegations of “serious corruption and other acts of impropriety”.

Reporting by Alexander Winning; Editing by James Macharia