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Eskom will impose load shedding on a continuous basis for at least the next two years, board chairman Mpho Makwanan has warned.
CEO André De Ruyter also reaffirmed that power cuts would continue for two more years at least.
US technology stocks are about to hit their next hurdle when earnings season gets under way in the coming week: vanishing profits.
The result of Eskom’s woes is that South Africans are increasingly being forced to explore alternative sources of electricity.
The Turkish company seeking to supply 1.2GW of power to South Africa will get a decision on its application to proceed with the projects by 7 March.
Eskom has promised some relief from the extreme load shedding it’s been imposing on South Africans over the past two weeks.
Google parent Alphabet is eliminating about 12 000 jobs, or 6% of its workforce, the company said on Friday.
The South African Post Office plans to reduce its working hours and retrench employees in a bid to cut its wage bill.
Mr Price Group is rolling out backup power to all its stores, as the company’s chairman called the country’s current electricity shortage untenable.