The New Development Bank plans to lend as much as $780 million to Eskom Holdings SOC Ltd. for infrastructure projects this year as the ailing South African power utility battles to keep power supply steady.
Eskom, which on Wednesday entered … Read the rest
Rolling blackouts last year had South Africans firing up candles, flashlights and generators after crisis-plagued Eskom Holdings SOC Ltd., which provides most of the country’s electricity, failed to meet demand. The power crunch has since eased thanks to fewer unplanned … Read the rest
Another family member of one of three patients who allegedly died during a spell of load shedding at the Letaba Hospital in Limpopo has contradicted claims by the health department that only one death can be linked to the power … Read the rest
Immigration lawyers have noticed a spike in inquiries from South African residents interested in emigrating from one or two a week last year to about 10 a week now.
Even the NGO Homecoming Revolution, which encourages expats to return to … Read the rest
Economic growth in the first quarter is expected to have slowed mainly due to the electricity supply constraints.
Most economists have projected that gross domestic product (GDP) will decline sharply from 4.1% to 1.4% quarter-on-quarter.
On Tuesday, Statistics South Africa … Read the rest
The rand was a touch softer against the dollar on Thursday, coming off the session’s highs after the central bank left rates unchanged despite a hawkish policy statement that had fuelled last minute expectations for a hike.
Governor Lesetja Kganyago … Read the rest
The ANC in Johannesburg will lead a march of Soweto residents to Eskom offices in Diepkloof on Thursday. The march follows last Friday’s power cuts in Soweto which lasted for more than ten hours.
Meanwhile, many of Soweto’s resident feel … Read the rest
Eskom is under attack – by the City of Joburg and the regional ANC over the almost week-long spate of power outages in Soweto.
The council has slammed the power utility for inefficiency and for failing to deliver on its … Read the rest
Residents of Orlando West, Soweto, who included pensioners, burnt tyres and protested against Eskom power cuts on Wednesday.
Johannesburg metro police spokesman Chief Superintendent Wayne Minnaar said the Klipspruit Valley and Khumalo Roads were affected.
”The protesters started at around … Read the rest
Tortuous public sector wage negotiations are underway, as another deadlock has been reached which could mean a damaging strike.
As Mugwena Maluleke, convenor of the Cosatu public sector unions has warned: “If the negotiations reach a breaking point, they will … Read the rest
Police have clashed with striking workers at various hostels housing construction workers of Medupi Power Station in Limpopo.
The workers had barricaded the streets and entrances to the hostels preventing buses to pick up workers to the construction site.
They … Read the rest
In the world of economics, one policymaker towers above all others. The head of America’s central bank, Janet Yellen, presides over a $17 trillion economy. The empire of her nearest competitor, Mario Draghi, amounts to a relatively puny $10 trillion. … Read the rest
President Jacob Zuma used the ANC’s January 8 birthday rally to absolve his government from responsibility of the energy crises gripping the country, according to reports from the ANC shindig in Cape Town.
Zuma told over 50 000 of ANC … Read the rest