South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
Author: Prinesha Naidoo
President Cyril Ramaphosa has appealed to Eskom to suspend its biggest electricity price increase in more than a decade.
The South African Post Office plans to reduce its working hours and retrench employees in a bid to cut its wage bill.
S&P Global Ratings expects government to fulfil its commitments to investors in Eskom as it finalises a plan to tackle the utility’s massive debt burden.
Finance minister Enoch Godongwana expects MPs to pass a new procurement law next year.
South Africa is set to tackle “mafia” groups that have compromised Eskom’s operations and contributed to nationwide blackouts.
More engagement with the fintech industry is needed before distributed ledger technology can be incorporated into South Africa’s financial markets, according to a new report.
Government plans to restructure Eskom’s debt before elections in 2024, and will only provide additional support if the company sells assets and cuts jobs, finance minister Enoch Godongwana said.
Government is considering taking over part or all of Eskom’s R392-billion in debt, the International Monetary Fund has disclosed.
South Africa’s inflation rate jumped to the highest level in almost five years in November.