The utility is labouring under a debt burden of about R420-billion and its cash from operations is not enough to service its interest payments

‘Difficult decisions’ must be made and there is no escape for the consumer and the taxpayer

New proposals will give the stock exchange greater oversight and introduce more transparency

Listing requirements for the debt market stand accused of being weaker than those for equities

Futuregrowth dumped its shares in the company years ago because the warning signs were clear

The exchange has been slow to act on calls for better protections and compliance monitoring

The arms company is certain it can refinance its debt but investors are wary after Futuregrowth’s decision to end lending to state-owned enterprises.

The company’s chief investment officer, Andrew Canter, says they want to be ‘on the right side of history’.