China to invest billions in SA
Cash-strapped Eskom has signed a R33 billion loan deal with the China Development Bank.
The deal was announced today in Pretoria where President Cyril Ramaphosa has been meeting with his Chinese counterpart, Xi Jinping.
Ramaphosa also announced that China will be investing nearly R200 billion in South Africa.
On the Eskom loan, Eskom's Andre Pillay says it sorts out most of the money they needed this financial year.
"This is part of moving us towards 62% of our funding secured for this year. It's part of the R5-billion framework we've signed with Xi Jinping. It's a normal commercial loan for the financing of our coal power station," Pillay said.