ABN – South Africa’s National Union of Mineworkers (NUM) has rejected Eskom’s plans to dispose of some of its non-core assets.
Eskom is thought to be attempting to sell its finance company, which provides home loans to its members.
A NUM spokesperson said: “The NUM will never support any decision that will affect its members and other employees at the company.”
The company announced at the Africa Investment Summit that it was looking into selling its assets to raise capital.
Finance Minister Nhlanhla Nene said: “No matter how much we would actually want to identify these non-core state assets, it will not be prudent and proper to share the names when we are at a sensitive stage of the transaction, which is very close to being concluded.
“We reconfirm the R23 billion (US$1.9 billion) coming from the sale of some of our non-core state assets.”