July 30, 2019 / 12:32 PM / 20 days ago

South Africa's Eskom annual loss widens to $1.5 billion

JOHANNESBURG, July 30 (Reuters) - South Africa’s power utility Eskom said on Tuesday its annual loss widened to 20.7 billion rand ($1.46 billion) in the 2018/19 financial year, from 2.3 billion rand in the previous year.

Eskom is Africa’s largest public utility and South Africa’s most indebted state firm. The higher loss was partly driven by a steep increase in debt-servicing costs and fuel costs.

$1 = 14.1537 rand Reporting by Alexander Winning Writing Olivia Kumwenda-Mtambo; Editing by Susan Fenton

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