JOHANNESBURG - Finance Minister Tito Mboweni said that government will be supporting the struggling state owned energy supplier, Eskom, with R230bn over the next 10 years.
Mboweni delivered his Medium Term Budget Policy Statement to South Africa in Parliament on Wednesday.
Mboweni said: "Government has announced a comprehensive set of structural reforms for Eskom and the energy sector, which we are supporting with R230 billion over the next 10 years. Very difficult budget adjustments have been made."
The finance minister said that to meet unanticipated cash needs, they have brought forward R26 billion in 2019/20, R33 billion in 2020/21 and R10 billion in 2021/20.
"Further delays in operational reforms could mean additional support is required. We cannot continue to throw money at Eskom. For the sizeable support required, it cannot be business as usual," Mboweni said.