Load shedding will hurt SA's economic growth, say economists

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

While economists and business leaders agree that it is difficult to quantify exactly how much turnover has been lost by business due to load shedding, there is consensus that the amount runs into billions of rands.

Eskom has admitted that it is battling to keep the lights on due to a lack of diesel, along with financial and structural problems.Standard Bank chief economist Goolam Ballim says that as the lights fade, so are the hopes of the country's projected overall growth rising to new levels.Business Unity CEO Tanya Cohen says that Eskom needs to come up with a concrete plan.

"We think that we really need a concrete plan as a country, we need to have very clear communication, in terms of what the steps are that are being taken by Eskom, and we think that certainly a realistic view of load shedding is required." Meanwhile, Eskom has denied reports that it has started planning for stage 5 and 6 load shedding, as it struggles to keep the country's lights on.

Fin24 reported on Tuesday that officials had started preparations for stage 5 and 6 which would imply shedding 5,000 and 6,000 megawatts, respectively.However, Eskom’s Andrew Etzinger said they hoped to take load shedding to a lower stage over the next few days. "Eskom is implementing stage 4 load shedding with no requirement to take that beyond stage 4, but media reports are to the contrary. There’s no requirement at this stage to escalate to stage 5 and 6."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Pass this message to incompetent CyrilRamaphosa & pravingordhan ,that useless Jabu Mabuza and that big head for nonsense Phakamani Hadebe

Our Deputy Prez says loadshedding is a sign of growth. We are growing daily. What do economists know?....Walked thru a mall this morning during loadshedding. Shops shut. Smaller businesses working with torches. It is their businesses/ living they are trying to preserve. Sad SA

Most certainly a rocket scientist headline

I have zero degree in economics and I can tell you this

SA Economy is dead!

It has already

With the amount of money the economy makes I don’t think so. We pay double for everything which makes up for any losses made by this greedy economy. We will pay not them...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stage 4 load-shedding continues on MondaySouth Africans must brace for another week of load-shedding, with stage 4 on at least Monday and Tuesday.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Load-shedding is 'unacceptable and disruptive to our economy': GordhanLoad-shedding, especially stage 4 load-shedding, is “unacceptable and disruptive to our economy”. U forgot to say its “BS”......! And drop ur mic off u go........!👮🏽‍♂️👮🏽‍♂️👮🏽‍♂️ Soldier..!!!! Please tell us what is gonna be done to address this situation rather than stating the obvious. oh not another commission of enquiry? Please 😴
Source: TimesLIVE - 🏆 28. / 59 Read more »

Stage 4 load-shedding continues on MondayBrace yourself for load-shedding as Eskom continues with stage 4 load-shedding on Monday. But their website and the apps all say stage 2?
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Load-shedding is 'unacceptable and disruptive to our economy': GordhanLoad-shedding‚ especially stage 4 load-shedding‚ is “unacceptable and disruptive to our economy”.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Eskom’s load shedding briefing gets load shedNot even a briefing to discuss the utility's problems is immune to those problems. 😂😂😂😂😂 We are being disrespected here by the ANC led government,pravin n his stogies must step down
Source: TheCitizen_News - 🏆 6. / 75 Read more »

SA faces 'huge struggle' to overcome load-shedding: Pravin Gordhan“We understand the frustration. We don’t have a magic formula. This not about whether Pravin Gordhan or Jabu Mabuza or Phakamani Hadebe single-handedly have a magic wand that can actually enable us to wave that wand and say loadshedding is over.” Incompetence abounds. If they are just doing investigations now....pathetic. Corrupt. Useless Recoup every cent that was lotted from ESKOM and do good things simple as that To be honest if leaders like this can’t solve national problem then they don’t deserve to be in that position. Their salary scale doesn’t justify their job.
Source: TimesLIVE - 🏆 28. / 59 Read more »

'Welcome to SA': 9 key quotes from Gordhan's load-shedding briefing'We don’t want to remain in a vicious cycle where one form of loadshedding leads to another set of economic problems, which leads to other problems. We want to shift from a vicious cycle to a virtuous cycle.'
Source: TimesLIVE - 🏆 28. / 59 Read more »

SA expresses shock and disbelief at Eskom’s stages 5 and 6 load sheddingThe struggling utility quietly changed the nunber of stages from four to eight in November last year. Is this not the time that this minister be fired?
Source: TheCitizen_News - 🏆 6. / 75 Read more »

SA still in the dark as Eskom mum on stage 5 and stage 6 load sheddingEnergy expert Ted Blom says the Eskom board is actively avoiding coming clean about the extent of the crisis. And still no one is held accountable for this. Ooh donner....wat nou? Waas die ligte....die Baas gaan iemand se gat slae gee..... U can see that, that stooge over there is in the dark himself! No clue whatsoever! RT : SA in the dark as Eskom mum on stage 5 and stage 6 load shedding
Source: ewnupdates - 🏆 30. / 53 Read more »

Stage 2 load-shedding: SA braces for powerless weekendStage 2 load-shedding came into effect on Friday and Eskom says it will remain until Sunday. Brain molefe was doing a good job. Zuma promised no more load shedding Great news
Source: eNCA - 🏆 49. / 51 Read more »

Load shedding at short notice could start from todayAn Eskom warning of possible load shedding comes after another warning on Tuesday of a high risk of load shedding between 4pm and 11pm.
Source: TheCitizen_News - 🏆 6. / 75 Read more »