Eskom mandate and China loan bring hope for SA

South Africa’s troubled state-run power company, Eskom, signed a $2.5bn loan from China Development Bank (CDB) this week, securing almost two-thirds of its funding requirements for the financial year and reviving hope among investors that the country’s state-owned companies have moved one step closer to returning to the capital markets. That wish was swiftly granted by Eskom mandating for its first bond since 2015. Mike Turner and Francesca Young report.