S.Africa mine union says would oppose Eskom asset sales

by Reuters 0

NUM says it will not support any decision that affects its members as cash-strapped Eskom considers asset sales as a way to raise capital.

South Africa’s National Union of Mineworkers said on Friday it would oppose any attempt by cash-strapped power utility Eskom to sell assets.

This especially includes its finance company which helps provide home loans to employees.

“The NUM will never support any decision that will affect its members and other employees at the company,” National Union of Mineworkers (NUM) spokesman Livhuwani Mammburu said.

(READ MORE: S.Africa plans $870 mln funding for Eskom by June – Treasury)

Eskom chief executive Tshediso Matona told the Reuters Africa Investment Summit that asset sales were being considered as a way to raise capital.