South Africa plans to spend 146.7 million rand ($8 million) over six months to protect state-owned electricity utility Eskom Holdings SOC Ltd.’s power stations, according to parliament.
(Bloomberg) — South Africa plans to spend 146.7 million rand ($8 million) over six months to protect state-owned electricity utility Eskom Holdings SOC Ltd.’s power stations, according to parliament.
President Cyril Ramaphosa gave authorization for 880 members of the South African Defence Force to help the police protect Eskom’s assets until mid October. Andre de Ruyter, former chief executive officer of Eskom, estimated in February that about 12 billion rand is stolen from the utility every year.
Read: Eskom Is Fighting Corruption at Every Step of Its Supply Chain
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