JOHANNESBURG - South African power utility Eskom said on Monday some loan covenants were triggered after irregular expenditure of around R20 billion ($1.5 billion), which the cash-strapped firm reported in its latest financial results.
“Yes, it (the irregular expenditure) did trigger some loan covenants but we have engaged with the necessary lenders and obtained waivers,” Acting Chief Financial Officer Calib Cassim said during Eskom’s results presentation.
230718 Eskom Acting Chief Financial officer Calib Cassim presenting the company Annual Financial results at their offices in Sunninghil North of Johannesburg.Photo Simphiwe Mbokazi/African News Agency/ANA.