News in South Africa 11th April: 1. Eskom debt relief extends to municipalities: National Treasury is rolling out an ambitious plan to rid struggling municipalities of their ever-growing debt to Eskom, but only if they adhere to strict conditions to permanently change problematic behaviour at council and consumer level. If successful, the plan – set […]
News in South Africa 28th February: 1. Plans for stage 16 load shedding: Last week, Eskom System Operator GM Isabel Fick admitted that it is working with the National Energy Regulator of South Africa (Nersa) on preparing schedules beyond Stage 8. This was confirmed later by acting head of generation Thomas Conradie on Saturday, who said guidelines […]
News in South Africa 13th February: 1. 68% chance of recession: South Africa’s economy is increasingly vulnerable to a recession in the next 12 months, with an ongoing electricity crisis seen further curbing activity. The probability of a recession stands at 68%, up from odds of 45% in January, according to Bloomberg’s latest monthly survey […]
News in South Africa 22nd December: 1. Load shedding filled holidays: South Africans are set for a bleak, load-shedding-interrupted ‘festive’ season as Eskom’s generating output plummets to completely new lows. At Tuesday evening’s peak, it wasn’t even able to output 23 000MW in total. This forced unprecedented overnight Stage 6 load shedding so that it […]
News in South Africa 23rd November: 1. Eskom in dire need of funds: Eskom has approached National Treasury asking for another R15 billion for diesel and other fuel so that it can keep the lights on in the country. The power utility has run out of fuel to power its open-cycle gas turbines, which are […]
News in South Africa 10th October: 1. SA on the brink of disaster: Former reconstruction and development minister Jay Naidoo says South Africa is in serious trouble and is showing signs of a failed state. Naidoo is a seasoned politician who was the founding general secretary of the Congress of South African Trade Unions (Cosatu). […]
News in South Africa 29th September: 1. Unemployment shock: SA’s unemployment rate could reach its highest since labour force data began to be collected. Economists say the country’s dwindling growth rate falls short of its growing need for employment, and this could lead to a decline in social cohesion. Recent data from financial services firm […]
News in South Africa 16th September: 1. Eskom wants 32% hike: Eskom plans to apply for a 32% tariff increase from 1 April 2023/24, it announced on Thursday. The large increase is another attempt by Eskom to persuade the National Energy Regulator of SA (Nersa) to grant it tariffs that are reflective of its costs. […]
News in South Africa 31st August: 1. Crypto industry crashing: Nearly 5 000 crypto employees have lost their jobs since April, reflecting the crushing $1.9 trillion (R32 trillion-plus) loss in the market value of cryptocurrencies since the peak in November 2021. Data from CryptoPresales.com shows June was the most brutal month, accounting for more than 60% of the […]
News in South Africa 30th August: 1. Rampant inflation to stay: The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets. That price is still worth paying, […]
