Economic Recovery and Social Compact to support Eskom
Scope of Work
Economic Recovery
On the 15th October 2020, the President announced the Economic Reconstruction and Recovery Strategy which incorporated the Social Partner’s Economic Recovery Action Plan agreed to in the second quarter.
The Action Plan sets out firstly, immediate or short-term measures which were determined on the basis of delivering against the following criteria: building confidence; kickstarting the economy; deepening industrialisation through localisation; delivering quick wins and continuing to provide relief to mitigate the impact of the Covid19 pandemic.
Secondly, the social partners commit to simultaneously implementing medium- and longer-term structural reforms and other programmes, which will enable sustainable and inclusive, transformative economic growth on an employment intensive trajectory.
Eskom Social Compact
Framework Agreement for a Social Compact on Supporting Eskom and Revised Implementation Plan
The social compact sets outs steps that each social partner will take to stabilise Eskom so that there can be an efficient, reliable and affordable supply of energy which will enable sustainable job creation and inclusive economic growth.
It includes the social partners working together to identify and support innovative and cheap funding mechanisms that aims to reduce Eskom’s debt, access fresh capital where required and preserve the integrity of the financial system.
The social compact includes interventions which will show results in the short, medium and long term.
The social compact was signed on 9 December 2020
Secretariat
Economic Recovery Structure
Nozuko Hlwatika – Manager: Economic Development/Recovery
Tel: 060 711 1357 | E-mail: nozuko@nedlac.org.za
Dineo Modika- Administrator: Economic Development/Recovery and Public Finance
Tel: 060 711 0760| E-mail: Dineo@nedlac.org.za
