By as soon as Wednesday evening, the amount of electricity that Eskom has failed to provide will be greater than the power it couldn’t provide in the whole of 2022.
Browsing: Lesetja Kganyago
South Africa has had 100 consecutive days of rolling blackouts, the longest stretch yet, with more to come as its electricity crisis deepens.
South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
The South African Reserve Bank has taken a step closer to creating a national digital currency. This is after it took the wraps last week off the second phase of Project Khokha.
South Africa used a revenue windfall to cut corporate taxes to revive a coronavirus-ravaged economy and set more ambitious targets to reduce debt and fiscal deficits.
The South African Reserve Bank raised its main lending rate by 25 basis points to 3.75% on Thursday, citing increased inflation risks.
Slow reforms and the return of rolling power cuts in South Africa could threaten the recovery of an economy that probably bottomed in the second quarter.
The South African Reserve Bank has cut the repo rate by a 100 basis points – the second time it has done so in less than a month as worries mount over the impact of Covid-19 on economic growth.
Faced with the biggest challenge of any post-apartheid South African leader, President Cyril Ramaphosa has also been given a rare opportunity to push through the painful reforms the economy needs.
The South African Reserve Bank cut its benchmark interest rate by the biggest margin in more than 10 years as it seeks to support an already fragile economy that’s expected be hit hard by the novel coronavirus.