IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

state-controlled

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 05 Feb 2018 | Removal date: open ended
Still in force

Bailout (capital injection or equity participation)

On February 5, 2017, the Public Investment Corporation (PIC) of South Africa provided Eskom, the national electricity public utility company, with a ZAR 5 billion (USD 415 million) loan to prevent the company's default. The loan's objective is to fund the company's operation for one month and is expected to be repaid in 30 days. 

Eskom approached the PIC to alleviate what it claims are temporary liquidity constraints. At the time PIC issued the bridge financing, Eskom was seeking additional financing worth ZAR 20 billion from outside investors.

The Public Investment Corporation (PIC)
Founded in 1911, and fully owned by the Government of South Africa, PIC is an investment manager that provides its services to public bodies. The company invests both in the public equity and fixed income markets as well as in property assets, private equity, early-stage venture capital within others.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

171 Electrical energy

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