South Africa looking at sale of Eskom power stations

South Africa is considering selling some of the state-owned power utility Eskom’s stations or an initial public offering of a portion of the cash-strapped utility’s shares, the Business Day newspaper said on Wednesday, quoting a Treasury official.

The proposal could revive previous plans to raise funds for the struggling power producer, which is battling the worst power supply shortages since 2008 and faces a funding crunch as it races to bring new power plants online.

“The question as to whether portions of state-owned enterprises can be spun off to raise money is on the table. It is decidedly on the table,” Treasury Director General Lungisa Fuzile told Business Day.

Read more: South Africa looking at sale of Eskom power stations: report | Reuters