South Africa pledges $5 bln Eskom bailout as budget creaks

21 February 2019, Cape Town — South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget on Wednesday that exposed the limited room President Cyril Ramaphosa has to fix the economy ahead of an election in May. Ramaphosa, who is fighting rifts within his … More »