President Cyril Ramaphosa reached out to labour unions that oppose his plans to break up the state power utility on Thursday, reassuring them that the move is not aimed at privatisation.
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South Africa entered a fifth day of rolling blackouts on Thursday as the government prepared to announce a raft of measures to end electricity shortages that are having a debilitating impact on the economy.
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South Africa’s struggling power utility started a third day of power outages, blaming issues including failures at two huge new power stations that are also the main source of the company’s massive debt.
Eskom is moving to stage-4 load shedding with effect from 1pm on Monday. This means that the utility will shed 4GW of electricity, up from the 2GW it was shedding on Monday morning.
Eskom started a second day of power cuts on Monday, creating uncertainty that endangers businesses that are highly dependent on the utility, a group representing the biggest electricity users said.
The easiest way to rescue ailing state power utility Eskom would be for government to assume part of its R419-billion of debt, CEO Phakamani Hadebe said.
President Cyril Ramaphosa’s state-of-the-nation address, delivered in parliament on Thursday evening, was the most technology-focused speech ever delivered by a South African head of state.
President Cyril Ramaphosa vowed to rescue the ailing state power utility by providing it with financial support and splitting it into three entities after it suffered massive losses and piled on debt.
President Cyril Ramaphosa unveiled plans to revive the flagging economy and create jobs, including removing obstacles to investing and doing business, attracting more tourists and stepping up the fight against graft.