IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jul 2015 | Removal date: open ended
Still in force

Bailout (capital injection or equity participation)

On 1 July 2015, the South African government sold its stake in Vodacom Group Ltd. for 25 billion rand (USD 1.9 billion), according to Bloomberg. The buyer was the state-owned pension manager Public Investment Corporation.
 
The funds from the sale represent a first tranche for the bailout of the Eskom by the South African government. Eskom, a power utility, is in need of 225 billion rand (USD 18 billion) in order to improve its power production capability, as the South African economy is suffering from blackouts.
 
The legal fundament for the bailout is the Eskom Special Appropriation Bill which was signed into Act 7 of 2015 by the President on 3 July 2015.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

171 Electrical energy
2716 Electrical energy. (optional heading)
271600 Electrical energy. (optional heading)

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