text: In February 2023, with debt sitting at R423 billion, the South African government announced that, subject to approval from existing debt holders, it would be providing support worth R254 billion, including interest payments for the following three years and three capital payments of R78-billion in 2023/24, R66 billion in 2024/25 and R40-billion in 2025/26, with the intention to reduce Eskom's overall debt to R300 billion.
  Chinese debt
  In July 2018 it was announced that Eskom had taken out a R33 billion loan from the Chinese government owned China Development Bank. The loan conditions were controversially not made public with accusations that it was an example of debt-trap diplomacy by China. During the Zondo Commission of Inquiry into state corruption a senior Eskom executive stated that an additional R25 billion loan from the China-based company Huarong Energy Africa was improperly and controversially taken out by Eskom. After the loan had been issued Eskom chairperson Jabu Mabuza stated to the Zondo Commission that Eskom would not be repaying the Huarong loan due to irregularities and corruption involved in the issuing of the loan.
  Controversies
  Municipal debts
  A number of South African municipalities are in significant arrears in paying Eskom for electricity supplied to them. The large amount owed to Eskom has caused significant controversy given the state utilities financial difficulties and repeated periods of load-shedding. By January 2020 South African municipalities owed Eskom a total of roughly R43 billion (equivalent to US$2.88 billion). This had increased to R49.1 billion by July 2022.