President Cyril Ramaphosa is hamstrung by politics and the economy is suffering the consequences.
The chief executive role at Eskom, considered the most challenging job in corporate South Africa, is attracting interest from people who know how difficult turning around the debt-ridden state utility will be.
Nissan, BMW and Volkswagen are among car makers in talks to bring the electric car revolution to South Africa, as the nation’s auto-factory floors risk being left behind in the global switch to greener vehicles.
Moody’s Investors Service hasn’t said it, but investors already think it: South Africa’s credit is junk.
Eskom wants the majority of its R440-billion of debt transferred to the South African government.
Eskom urgently needs a plan to turn profitable or South Africa’s state-owned utility will collapse under mounting debt, according to credit agency Moody’s Investors Service.
South Africa’s biggest business lobby criticised the government’s handling of the crisis at power utility Eskom and said it was unrealistic in its approach to the country’s growing debt burden.
Eskom, South Africa’s biggest polluter, said emissions of particulate matter that cause chronic respiratory disease are at their highest level in two decades.