Banking Association of SA urges calm over Eskom restructuring

Labour unions are concerned following President Cyril Ramaphosa's announcement in his State of the Nation Address that the utility would be split into three entities.

CAPE TOWN - Cas Coovadia, MD of the Banking Association of South Africa (Basa), has warned against assuming that Eskom’s restructuring will come with mass job cuts.

Coovadia explained: “If you’re talking about restructuring an institution and if you’re talking about making them more efficient and perfect to meet their economic mandates, then one shouldn’t pre-empt what restructuring will or will not entail.”

Labour unions have raised concern following the announcement that the power company will be split into three entities responsible for generation, transmission and distribution.

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