Did Eskom secure a $10 billion loan from Saudi Arabia and a $33 billion loan from China in 2018?
In 2018 President Cyril Rhamaposa confirmed Eskom had entered into a loan agreement with the China Development Bank for $2.5 billion (about R38.7 billion) to fund the construction of Kusile Power Station.
The president also secured a $10 billion (about R152.7 billion) investment pledge from Saudi Arabia to enhance energy security, create capacity and reduce the cost of energy in South Africa. The pledge was made during President Cyril Ramaphosa’s State visit to Saudi Arabia in 2018.
