Municipalities in debt affecting investment opportunities: Eskom
Eskom's keeping the lights on for municipalities that still owe it money.
The utility says it won't be cutting electricity supply to defaulting municipalities until March 1.
It's a reprieve for municipalities that owe Eskom just over R10-billion in debt.
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Briefing the media at their Megawatt Headquarters, the power utility's acting CEO, Matshela Koko says this is affecting their ability to attract foreign investment.
"What saddens me is that the agreements that we have made with municipalities have not been honoured. I called the CFO from China in December and he was meeting with investors. The investors were saying to him - you want our money but you are failing to recover money from your own government departments," he said.
Meanwhile, Koko says progress is being made to restore the power utility to its former glory.