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Markets News

South Africa's Eskom makes smaller 20.5 bln rand loss in 2019/20

JOHANNESBURG, Oct 30 (Reuters) - South African state power utility Eskom made a net loss of 20.5 billion rand ($1.3 billion) in the financial year ended March 2020, smaller than a loss of 20.9 billion rand the year before, it said on Friday.

Eskom struggles to power Africa’s most industrialised economy and is dependent on government bailouts for its survival. ($1 = 16.1622 rand) (Reporting by Alexander Winning)

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