COSATU has welcomed the announcement by President Ramaphosa on the just transition financial support for Eskom, noting that it is a much-needed injection into the struggling economy.
The Congress of South African Trade Unions (COSATU) issued a statement on Thursday, 4 November 2021, welcoming President Cyril Ramaphosa’s announcement of a just transition financial support for the power utility, Eskom. It also noted that the financial support, which is to the value of R130 billion, is positive news for Eskom and the economy.
COSATU welcomed this announcement, stating that it is a badly-needed injection into the economy, which is in a deep recession and in desperate need of every bit of stimuli. Moreover, it will assist Eskom to invest in new energy generation capacity.
It also highlighted how this will reportedly benefit workers and communities whose livelihoods are at risk in the coal mining and energy sectors. Moreover, that whilst the federation is welcoming the announcement, it will be further engaging with the government to ensure that its just transition commitments are honoured with no community or worker left behind.
See the post below.
— @COSATU Today (@_cosatu) November 5, 2021