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10% of Eskom to be set aside for BEE

3rd March 2003

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Ten percent of Eskom's assets earmarked for sale as part of the electricity utility's restructuring plan, will be allocated to black economic empowerment, Public Enterprises Minister Jeff Radebe said on Monday.

Addressing the inaugural annual general meeting of Eskom Holdings Ltd in Johannesburg, Radebe said the allocation was part of a 30 percent stake which was earmarked for the restructuring of the company.

"We intend starting the process of disposing the 10 percent stake by the beginning of the 2003/4 financial year," he said.

The government is the sole share holder of Eskom - Sapa.

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