Eskom, struggling with more than R440-billion in debt, has said it will take as long as three to five years to comply with the government’s plan to split the company into three separate units.
Browsing: Cyril Ramaphosa
South Africa is caught up in the global hype of the so-called fourth Industrial Revolution. This is distracting it from the unfinished business of redressing inequality and creating the preconditions for an inclusive digital economy. By Alison Gillwald.
The threat of an International Monetary Fund bailout, unthinkable a few years ago, may force South Africa’s government to push through the reforms it needs to rescue the economy.
President Cyril Ramaphosa is hamstrung by politics and the economy is suffering the consequences.
Removing policy uncertainty in South Africa, allocating new broadband spectrum and changing visa regulations could immediately boost the country’s flagging economy, Reserve Bank deputy governor Kuben Naidoo said.
South Africa’s biggest business lobby criticised the government’s handling of the crisis at power utility Eskom and said it was unrealistic in its approach to the country’s growing debt burden.
Karen Breytenbach, who oversaw the expansion of South Africa’s privately owned renewable energy projects, said she was asked to vacate her job about nine months before her contract expires.
The department of communications & digital technologies was meant to publish the policy direction on the assignment of broadband spectrum in South Africa last Friday, but failed to do so.
South Africa will ramp up support for its ailing state-owned power utility Eskom with an additional R59-billion spread over two years.
South African business leaders are becoming frustrated with the pace of reform under President Cyril Ramaphosa. His cabinet choices and spending pledges haven’t helped.