ESKOM Holdings Limited
Overview
- Reference: P-ZA-FOO-001
- Approval date:
- Start date:
- Appraisal Date:
- Status: OngoingOnGo
- Implementing Agency:
- Location:
Background
Eskom Holdings is South Africa’s national, vertically integrated electricity utility, engaged in the generation, transmission, distribution and retailing of electricity. So far, Eskom has fulfilled its mandate, which is to ensure a secure and economic supply of electricity to South Africa. However, the country has over some months been experiencing blackouts that have been the result of a combination of three factors, namely little in the sector over past ten years, an unprecedented economic growth rate resulting in demand of electricity that has been higher than expected, and a slow Government response to meeting rising electricity demand.
Objective
The main objectives of the Investment Program are to:
- Assist the Government in achieving the Accelerated Shared Growth Initiative of South Africa (ASGISA) 6% per annum target of GDP growth from 2010
- Ensure security of supply
- Improve operational efficiency
- Enhance electricity access rate from 72% to 100% by 2012 and
- Foster sustainable development.
Description
Support to Eskom generation, transmission, distribution and corporate operations.
Benefits
Eskom plays an important role in the South African economy in terms of job creation, universal access to electricity and economic development. The Investment Program will be critical to the realization of South Africa’s Accelerated and Shared Growth Initiative (ASGISA) through which the Government intends to halve the level of poverty and unemployment by 2014 and enable South Africa to achieve and sustain high average economic growth rates of 4.5% for the period 2004- 2009 and 6% between 2010 and 2014. The proposed investment program will also enable Eskom to continue to increase the level of service, thereby reducing poverty, promoting opportunities for the participation of marginalized communities in economic activity and improving the quality of their lives.
Key contacts
N/A - N/A
Costs
| Finance source | Amount |
|---|
