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Energy

South Africa's Eskom says gross debt rose to $29.3 bln as of March

JOHANNESBURG, Sept 2 (Reuters) - South African state power utility Eskom’s gross debt increased to 488 billion rand ($29.3 billion) as of March 2020, from 440 billion rand a year earlier, the firm said in a presentation to parliament on Wednesday.

Eskom added that its pre-audited results for the 2019/20 financial year reflected a closing cash balance of 23 billion rand, and that the risk of power cuts would remain until after it had completed an 18-month maintenance programme.

$1 = 16.6577 rand Reporting by Alexander Winning; editing by Mfuneko Toyana

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