An electrical substation near cooling towers at the Komati coal-fired power station, operated by Eskom Holdings SOC Ltd., in Mpumalanga, South Africa, on Tuesday, Jan. 12, 2021. In South Africa, for decades almost all the electricity needed to power Africa’s most industrialized economy has been produced by a fleet of aging coal-fired plants constructed alongside the mines to the east of Johannesburg.
Boardroom Talk
Boardroom Talk: Looking beyond today’s electricity crisis suggests pain won’t have been in vain
This Boardroom Talk includes Magnus Heystek's response to curveballs and how the pain of SA's energy crisis will not be in vain.
By Alec Hogg
When you're in the middle of a crisis, it's difficult to see past the immediate. As the saying goes, who needs strategy when you're in a hole and your backside is being bitten by crocodiles…..just get out of the hole
Yet one day future historians are likely to look back on SA's energy crisis as a major turning point for the nation. It has comprehensively destroyed the ANC's ruinous 'Developmental State' fantasy. Signals the inevitable sobering up of the socialist who, in Maggie Thatcher's parlance, has finally run out of other people's money.
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