Briefs
Nhlanhla Nene concerned about Eskom suspensions
South Africa's Finance Minister Nhlanhla Nene said on Tuesday the temporary suspensions of key officials at the state-owned power utility Eskom was a concern, but the firm's financial stability was on course.
The government has said it aimed to sell "non-core" assets to raise 23 billion rand ($1.93 billion), for Eskom this year, which faces a funding gap to 2018 of up to 200 billion rand as it struggles to keep the lights on and build new power plants.
Standard & Poor's (S&P) downgraded the struggling Eskom to junk last week, underlining the fragile state of South Africa's economy and the suspension of the utility's chief executive officer and three other senior executives, which it said reduced the agency's confidence in the utility.
S&P's rating downgrade is likely to raise borrowing costs for the cash-strapped utility.
($1 = 11.8865 rand)
(Reporting by Wendell Roelf; Writing by Stella Mapenzauswa and Peroshni Govender; Editing by James Macharia)