South Africa could dramatically boost economic growth if the country fixed problems at Eskom and Transnet, the IMF said.
Author: Adelaide Changole
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South Africa is planning to scale up its grid capacity as it works to address the crippling power shortages.
Unplanned outages at Eskom’s generating fleet fell to less than 16GW in the past two months, President Cyril Ramaphosa said.
The Reserve Bank is working on a contingency plan to ensure the country’s payments system remains in operation in the event Eskom’s electricity grid collapses.
Tyme Group is considering entering Vietnam as early as next year in an ambitious expansion plan.
Government is prepared for legal fights with environmental groups over its plans to use ship-mounted power plants.
South Africa is set to adopt a raft of legislative changes over the next three to five years to modernise the regulatory framework for financial institutions.
Private investments in energy generation will take two to three years before they solve the load shedding problem, Nedbank CEO Mike Brown said.
The South African Reserve Bank has raised concern about the threat an inadequate and unreliable power supply poses to financial stability.