S.Africa's Treasury says Funding Process for Eskom Well-advanced

The process by South Africa's government to sell assets to raise funds for cash-strapped power utility Eskom is well-advanced and the state will make further announcements "in due course", the National Treasury said on Friday.

In a statement, the Treasury also said President Jacob Zuma's government recognized that electricity tariffs needed to be adjusted for Eskom to achieve cost-reflective levels.

(Reporting by Stella Mapenzauswa)