The rand extended its week’s losses on Thursday, as severe power cuts and deadly floods weighed on the economic growth outlook.
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The collapse of Netflix shares on Wednesday is the latest drastic sign that investors are abandoning streaming services and other pandemic winners.
Eskom CEO André de Ruyter has dismissed any suggestion that the South African power grid is in immediate danger of a total system blackout.
New research shows South Africans actively dislike telecoms operators, with the industry ranked last in net customer sentiment, below banking, insurance and retail.
Eskom will later on Wednesday reduce to stage 3 the current bout of severe load shedding that is crippling South Africa’s economy.
Karpowership is expanding its generation capacity by 50% to tap global demand even as it struggles to get projects going in potentially its biggest market.
South Africa will remain on stage-4 load shedding for now as Eskom works to restore more generating units to the grid.
Google is investing in its first-ever Africa product development centre, in Nairobi, as it positions itself to serve a growing base of Internet users on the continent.
Losing customers for the first time in a decade, Netflix is throwing out all of its old rules.
The rand weakened the most in five months as rolling power cuts, flood damage and signs of a Covid comeback added to worries about the economic outlook.