Editorial: Eskom requires surgery not a Band-Aid

Eskom’s debt refinancing is undoubtedly a critical burning platform. The clock is most definitely ticking and the consequences of not closing the immediate financial chasm will be dire not only for the utility, but also for citizens. That said, government is extremely unlikely to allow Eskom to default. It intervened at the eleventh hour to prevent South African Airways from hitting the wall, even though the national carrier is hardly comparable when it comes to economic significance. In many ways, therefore, the current discussion about Eskom’s ‘going concern’ status is moot, as Eskom is too big and important to fail.