Self-generation of electricity by businesses and households is likely to reduce rolling blackouts without compromising Eskom’s business model, a top economist said.
Author: Prinesha Naidoo
South Africa has had 100 consecutive days of rolling blackouts, the longest stretch yet, with more to come as its electricity crisis deepens.
South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
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.