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Eskom withdraws from Davos Forum!

The utility has been struggling to meet demand for electricity due to a lack of generating capacity and a maintenance backlog that has resulted in serious backlashes from the public.

The decision not to attend was welcomed by the minister of Finance Nhlanhla Nene, this week, according to SABC.

“Look, Eskom challenges are at home and I’m glad that they took a decision to address those challenges,” he said.

“We will do everything humanly possible, to make sure, if there is a need for them to be supported, that they can be supported. But the challenges that we confront in the energy sector, particularly with Eskom, are at home,” says Nene, who will attend the Forum alongside other government officials and business people.  

Read the statement from Eskom:“It is important to note that the chief executive of Eskom Mr Tshediso Matona’s attendance had already been cancelled on 9 January 2015 at his own discretion – prior to questions being asked about Eskom’s attendance at Davos,” the power utility said in a statement.

“At that time, only the chairman Mr Zola Tsotsi and the group executive for sustainability, Dr Steve Lennon, were confirmed to go.

“We have taken note of the public concern and have withdrawn our participation accordingly. Mr Tsotsi and Dr Lennon will therefore not be attending the meeting in Davos.”

This week, we reported that Eskom was exporting electricity from Namibia.

Business analysts welcomed the move but again questioned, if this would help as the solution is still far fetched.

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