Ramaphosa must announce the terms of the loan from Esbe-China for R33bn



The agreement was signed last month after bilateral talks between Chinese President Xi Jinping and Ramaphosa.

Democratic Alliance leader Mmusi Maimane at a press conference in Johannesburg on 21 May 2018. Photo: Sethembiso Zulu / EWN

JOHANNESBURG – Democratic Alliance (DA) leader Mmusi Maimane gave 14 months to President Cyril Ramaphosa to reveal the terms and conditions of the R33 billion loan agreement that Eskom has signed with the Chinese Development Bank.

The agreement was signed last month after bilateral talks between Chinese President Xi Jinping and Ramaphosa.

Maimane says that Ramaphosa has no reason to keep the terms and conditions secret.

"Just stop the secrecy, let's make clear what the general conditions are, so that we can ensure that South Africans know that their money has not been spent on usurers."

He says he is worried that the terms of the loan may be detrimental to the country's economy.

"So if we take out a loan at a level that is higher than what we can pay back, we can understand that this gives us a fiscal risk."

Maimane says that borrowing Eskom loans with loans will not help the electricity company.

(Edited by Thapelo Lekabe)


Source link

Leave a Reply