Johannesburg - The National Union of Metalworkers of South Africa (Numsa) said on Friday President Cyril Ramaphosa's announcement of plans to split state power firm Eskom into three entities confirmed its fears that the government wanted to privatise the cash-strapped utility, a move that would threaten jobs.
In his State of the Nation Address to Parliament on Thursday evening, Ramaphosa said Eskom would be divided into Generation, Transmission and Distribution entities as part of a new business model to help turn it around.
He acknowledged Eskom was in crisis and posed a significant risk to the South African economy, requiring bold decisions that would not affect the country's sovereign credit rating. Ramaphosa also said Eskom would need more revenue through an affordable tariff increase....
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