Eskom signs a $2bn short-term loan with seven lenders

South Africa’s State-run power utility Eskom said on Wednesday it has signed a R20-billion ($2-billion) short-term credit facility with a consortium of seven local and international banks. "The funding provides Eskom with sufficient liquidity to allow the company time to continue resolving its governance related issues and enables Eskom to recommence with its normal funding program required to execute the FY 2018/19 funding plans," acting Chief Financial Officer Calib Cassim said in a statement, referring to the utility’s current financial year.