Eskom Secures R2.5 billion Worth Of Farmland Over Debt Dispute

Eskom has secured farmland valued at an estimated R2.5 billion as security for debt owed by the Matjhabeng Municipality, it said in a statement on Tuesday afternoon.

“In its ongoing efforts to recover more than R3.4 billion in unpaid debt owed by the Matjhabeng Municipality, the municipality has agreed to hand over to Eskom 139 farms belonging to the municipality as security on the debt,” Eskom said.

Eskom spokesperson Sikonathi Mantshantsha said; “The title deeds of these farms will be endorsed in favour of Eskom until the debt dispute between Eskom and the municipality is finalised. This agreement has been made the order of the High Court of the Free State division.”