An economy stuck in the longest downward cycle since World War 2, chronic electricity shortages and soft business confidence – after 20 months running South Africa, patience is wearing thin with Cyril Ramaphosa.
Browsing: Cyril Ramaphosa
President Cyril Ramaphosa said Eskom’s financial position “remains untenable” and urged non-paying citizens to change a culture of non-payment.
Eskom remains the single largest fiscal threat to South Africa. And despite many promises from the president, he is yet to release a restructuring plan or appoint a permanent CEO of the utility.
As South Africa enters its third day of blackouts, investors are still awaiting word from President Cyril Ramaphosa’s administration on how it’s going to fix the ailing state power company.
President Cyril Ramaphosa poured cold water on proposals by his finance minister, Tito Mboweni, that state power utility Eskom sell some of its power plants to help settle its debt.
South Africa’s economy was roaring along in 2007 on the back of the global commodities boom when power shortages struck, bringing mines and smelters to a halt.
Government has spent months mostly talking about how to save the debt-stricken state power utility Eskom, spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering.
Adaptive regulation is needed to ensure South Africa reaps the benefits of digitalisation that will integrate it more into the global economy. By Alison Gillwald.
A plan to establish the world’s largest green energy financing initiative is being threshed out in South Africa.
Eskom, labouring under R450-billion of debt, has sought advisers on how to implement a government bailout seven months after President Cyril Ramaphosa said the company would be reorganised.