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Posts Tagged ‘loadshedding’
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April 23, 2019

Load-shedding may cut growth close to zero, SARB says

South Africa’s power cuts could bring economic growth for the year close to zero if they continue at the same severity seen in March, the South African Reserve Bank (SARB) said.

The wave of rolling blackouts that started in November and are among the worst the country has yet experienced could knock 1.1 percentage points off economic growth, the Reserve Bank said in its Monetary Policy Review released Wednesday in Pretoria, the capital. Expansion of close to zero would be the worst outcome since 2009, when former President Jacob Zuma came to power.

The nation’s embattled power utility, Eskom Holdings, implemented so-called Stage 4 load-shedding, which removed about 10% [...]

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April 1, 2019

5 things you need to know in SA business today .

 

Tito Mboweni has lashed out at Sanral, criticising the agency’s decision to suspend summonses to recover e-toll debt.

“They [the board] must reverse the decision. It has implications for the bond market, it has implications for the fiscus. It has implications for their own credit rating and the credit rating of the country,” Mboweni said.

 

The repo rate remained unchanged yesterday, with the Reserve Bank worried about growth given loadshedding and weak business confidence. But it also expects that inflation will tick higher over the medium term due to the large Eskom tariff hikes and higher petrol prices. Trevor Manuel has threatened [...]
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