City of Tshwane secures deal to settle R6.67bn debt it owes Eskom

By Charles Molele

The City of Tshwane has secured a five-year payment agreement with Eskom to settle its R6.67 billion historical debt, a move hailed as a milestone in the city’s financial recovery.

The agreement, formalised as a court order on November 26, 2024, includes critical measures to stabilize the city’s strained finances while ensuring continued service delivery.

Tshwane nayor Dr. Nasipi Moya announced the agreement during a media briefing at Tshwane House, Pretoria.

“Today, however, I am pleased to announce that the City of Tshwane has reached a landmark agreement with Eskom to settle this issue. This agreement, formalised as a court order on 26 November 2024, is a significant milestone in our journey to financial recovery and stability,” said Moya.

“When we took office, the Eskom debt stood at over R7 billion, having ballooned from R2.9 billion in just 18 months, with over R700 million in accrued interest