Media Statements

The African National Congress (ANC) welcomes Moody’s decision to upgrade Eskom’s credit rating, a development that affirms the steady progress being made in improving the reliability and financial stability of South Africa’s power utility. This improvement directly reflects the impact of the ANC NEC Energy Action Plan of 2023, which included a National Treasury facility of R264 billion to strengthen Eskom’s balance sheet and support long-term sustainability.

This follows Fitch Ratings’ upgrade of South Africa’s credit rating last week, where the agency cited improvements in electricity delivery, reduced load shedding and a stronger financial position at Eskom. Two consecutive upgrades in a short period demonstrate renewed international confidence in the country’s reform efforts and energy recovery trajectory.

The ANC reaffirms that a stable and reliable energy system is essential for economic growth and job creation.

Government must continue implementing structural reforms, expanding generation capacity and ensuring Eskom’s continued recovery to support South Africa’s broader economic renewal.

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