South Africa’s ten most-indebted state firms have an estimated R289.9 billion in loans maturing by the end of March 2025, Finance Minister Tito Mboweni has said in a written reply to a parliamentary question. Those include power utility Eskom, which has a total of R401 billion in liabilities and has already received several bail-outs, with Mboweni admitting that the cash-strapped companies may struggle to refinance these debts, requiring the government to provide support. Mboweni also insisted though that in the long-term, the government intends reforming the companies to make them sustainable, including disposing of some of their non-core assets, merging some of them, and adopting alternative financing models.