South Africa’s Public Enterprises Minister Pravin Gordhan has approved the sale of Eskom’s distribution assets to a new state-owned company. News24 reports that the new company, which has yet to be named, will be a wholly owned subsidiary of the power utility. The minister gave his stamp of approval for the deal to go ahead in a letter to Eskom chairperson Mpho Makwana. Under the country’s Public Finance Management Act, Gordhan’s approval is needed for Eskom to dispose of any of its assets.
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