The Congress of South African Trade Unions (Cosatu) expects a plan that it’s proposing to save Eskom Holdings from its debt burden to be ready within weeks, said the labor federation’s parliamentary coordinator. The labor group, an ally of the ruling African National Congress, has proposed using the state pension fund manager, the Public Investment Corporation, and government-owned development finance institutions to cut the power utility’s debt by R254-billion to R200-billion. The company’s dire finances have led to regular power cuts and stagnant economic growth.
