Company Overview of Eskom Holdings SOC Limited
Eskom Holdings SOC Limited generates, transmits, and distributes electricity to industrial, mining, commercial, agricultural, and residential customers in South Africa. The company also has an interest in electricity operations and maintenance concessions in Mali, Senegal, Mauritania, and Uganda. In addition, it sells electricity to municipalities, which in turn redistributes it to businesses and households within their areas; and buys and sells electricity in the Southern African Development Community region. The company operates 27 power stations with a total nominal capacity of 41 995 megawatt (MW) comprising 35 726 MW of coal-fired, 1 860 MW of nuclear, 2 409 MW of gas-fired, and 2 000 M...
Founded in 1923
Key Executives for Eskom Holdings SOC Limited
Acting Chief Financial Officer and Senior General Manager of Treasury Division
Chief Commercial Officer of Group Commercial
Chief Executive Officer of Eskom Development Foundation
Compensation as of Fiscal Year 2014.
Eskom Holdings SOC Limited Key Developments
Government To Sell Stakes In Publicly Traded Companies
Oct 28 14
The government of South Africa would consider selling stakes in publicly traded companies, including those held indirectly through The Industrial Development Corporation of South Africa Limited (IDC), to bolster the finances of power utility Eskom Holdings SOC Limited. The government said last week in its mid-term budget it would provide Eskom with ZAR 20 billion through the sale of non-strategic assets. Many of those, including a stake in Sasol Ltd. (JSE:SOL) are held via state-owned IDC. Nhlanhla Nene, Finance Minister of South Africa, said that the form in which the shares were owned would make no difference to the government’s ability to raise cash. Nene said, "If it’s held by government, it’s held by government. There are areas where the government shouldn’t be invested. It’s those areas that we are looking at." IDC owns almost 13% of Kumba Iron Ore Ltd. (JSE:KIO) and 7.9% stake in ArcelorMittal South Africa Limited (JSE:ACL). Mandla Mpangase, spokesman of IDC, declined to comment in an e-mailed response to questions from Bloomberg.
Government Is In Talks To Sell Eskom's Asset
Oct 23 14
South Africa’s government has held exploratory talks with banks that could potentially advise it on the sale of state assets, the head of the National Treasury said. Finance Minister Nhlanhla Nene announced in his maiden mid-term budget on October 22, 2014 that stakes in listed and unlisted companies and real estate may be sold off to help state power utility Eskom Holdings SOC Limited plug a ZAR 225 billion funding gap. The government hasn’t identified the assets, he said. “I do know there have been conversations” about the sales, Lungisa Fuzile, the Treasury’s director-general, said in Cape Town. “We talk to investment banks, at least formally twice, informally several times, in the year just to understand the lay of the land, to understand that if government were to pursue certain strategies how would the market respond. It does not mean a decision has been taken.” Fuzile said he couldn’t name the banks as he wasn’t directly involved in the talks. “The government is looking at a range of non-core assets,” Jabulani Sikhakhane, Nene’s spokesman, said. “No bankers have been appointed to assist with this process.”
Government Reportedly To Privitize Vodacom And Telkom
Oct 16 14
Eskom Holdings SOC Limited reportedly has asked government to consider selling its stake in Vodacom Group Limited (JSE:VOD) and also stake in Telkom SA SOC Limited (JSE:TKG). Bloomberg reported that government has retained bankers to advise on disposal of 13.9% stake in Vodacom and 39% stake in Telkom. Telkom's share fell 4.9% to ZAR 49.66 on October 15, 2014, while Vodacom closed 2.8% down at ZAR 122.97. According to Business Day, Telkom declined to comment and Sinah Phochana, Spokeswoman of Telkom, did not comment on speculation. Vodafone Group Public Limited Company (LSE:VOD) said in an e-mail it was not policy to comment on market speculation. The Treasury did not deny the state was looking to sell its stake in Vodacom. Phumza Macanda, spokeswoman, said the government held interests in & many sectors of the economy& and from time to time made decisions to increase and decrease them.
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