Goldman Says Eskom's Crisis Leaves No Time for Unbundling Plan

South African President Cyril Ramaphosa’s plan to split the state-owned power utility into generation, distribution and transmission divisions will take longer than the government has to revive the business, according to Goldman Sachs Group Inc, Bloomberg News reported. Eskom Holdings SOC Ltd. is focusing on trying to avoid implementing power cuts through the year, as it attempts to fix aging power plants and defective new units. Ramaphosa has rolled out a 69 billion-rand ($5 billion) bailout for Eskom over the next three years and a plan to split the business into three. That will take too long, according to Colin Coleman, Goldman’s CEO for sub-Saharan Africa, who in 2017 called Eskom the biggest risk to the economy. Read more