9
South Africa’s power giant Eskom has turned a corner, reporting its first full-year profit since 2017 after years of financial turmoil. The state-owned utility posted a $928 million gain for the year ending March 2025, a dramatic recovery from the $3.2 billion loss recorded the year before. The turnaround was driven by government debt relief, tariff hikes, and fewer blackouts—just 13 days of outages compared to more than 300 the prior year. While the result sparks optimism, Eskom’s challenges are not over. Municipalities still owe the utility significant debts, posing risks to long-term stability even as profits are earmarked for infrastructure upgrades.
Africa News