South Africa is teetering on the brink of its most severe power cuts yet, just months after government announced emergency measures to try and end load shedding.
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The current electricity crisis engulfing South Africa’s economy shows no immediate sign of abating.
South Africa will require R500-billion in private investment to end power cuts that are stalling economic growth by the start of 2025, Peter Attard Montalto said.
Eskom will continue with power interruptions until at least 5am on Monday, the state-owned utility said on Friday.
Eskom plans to launch a crowdsourcing digital platform in an effort to attract skills it urgently needs, including technical and engineering talent.
A proposal by wealthy nations to mobilise the money to help South Africa reduce its dependence on coal has proved more complex than anticipated.
Eskom is seeking an average power tariff increase of just over 32% for next year, much higher than originally sought.
Deputy President David Mabuza has told MPs that there are no plans to privatise Eskom, despite the difficulties facing the state-owned utility.
Eskom said it will continue to implement severe power cuts – at stage 4 – until at least the end of the workweek, and possibly beyond.
Eskom has implemented power cuts on 100 days in 2022, with more to come.