Tag: eskom crisis
“You are talking about old plants, in pushing that plant you really are doing damage…For the past decade, this maintenance has not been done by the book. It is like servicing a car, the cost of not servicing costs more in the long term than servicing it.”
The announcement of Nampak CEO Andre de Ruyter as the new Eskom CEO saw yields on Eskom’s 2021 dollar bonds jumped the most in more than three months. The appointment of De Ruyter’s sent shockwaves through the market with many analyst concerned that Eskom’s challenges may be too big for him to fix. Rashaad Tayob, Fund Manager at Abax Investments joins CNBC Africa for more.