Cosatu Wants Workers to Have $6.9 Billion Stake in Eskom
- Cosatu wants PIC-held bonds to be converted into worker equity
- Federation wants mandatory investment in development bonds
A worker walks along the access road to the Eskom Holdings SOC Ltd. Grootvlei coal-fired power station in Mpumalanga, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
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The Congress of South African Trade Unions, the country’s biggest labor federation and a key ally of the ruling party, said it wants the 104 billion rand ($6.9 billion) of Eskom Holdings SOC Ltd.’s debt held by the state pension fund manager to be converted into equity owned by workers.