South Africa simply has to rescue the nation’s distressed power utility. Even though it can’t afford to. Eskom Holdings supplies 95% of the nation’s electricity. If it went bankrupt, the entire economy would be dragged down as well. The danger of that is growing: The utility has a mountain of debt, doesn’t produce enough power to meet demand or cover its costs and urgently needs to implement a turnaround plan that will hinge on government aid.
