South African labor unions said they’ll oppose partially privatizing Eskom. Unions see any form of privatization as a threat to jobs, Fin24 reported.
“Eskom…has a key mandate to electrify the country. We don’t believe it should be in the hands of the private market,” said Castro Ngobese, a spokesperson for the National Union of Metalworkers, which represents many Eskom workers, Fin24 reported.
The National Union of Mineworkers, which also has members at Eskom, said in a statement, “any intention whatsoever to sell Eskom or part of Eskom will be resisted. Eskom is not for sale.”
Bart Stemmet, an economist at research firm NKC, said there is money to be made selling assets, and if the price is right and the regulations are favorable, there will be buyers.
Source: Fin24
