Eskom disaster is a prod for all of SA to join the real world
There’s only one solution: taxpayers will be forced to bail out this disastrous monopoly. Eskom is a sickening example of a hopelessly impractical “Developmental State” ideology.
There’s only one solution: taxpayers will be forced to bail out this disastrous monopoly. Eskom is a sickening example of a hopelessly impractical “Developmental State” ideology.
This week was all about the economy. The shock GDP figures brought home the grim reality of what we’re up against in the fight to rebuild.
The gold price is on its longest winning streak in almost a year and a half, rising for the eighth consecutive trading session on Friday.
South Africa has no option but to increase financial support for Eskom even while pushing for reforms at the stricken state-owned power utility.
South Africans are reeling from the news that the economy shrunk in the first quarter of this year. Analysts have blamed Eskom power cuts for hammering manufacturing, mining and agricultural output.
South Africa’s central bank won’t bail out the country’s troubled state-owned companies including power utility Eskom because it would fuel inflation.
Gwede Mantashe called for an end to the “insane and silly” debate into the future of Eskom, coal, renewables and the nation’s energy security.
South African Airways’s prospects of surviving in its current form took a hit over the weekend when news broke that Chief Executive Officer Vuyani Jarana quit over a lack of government support.
South Africa needs to take “robust actions” to reduce its fiscal deficit and reverse the increase in public debt, the International Monetary Fund has said.
The chief executive of South African Airways, Vuyani Jarana has quit, citing a critical dearth of funding and the government’s lack of support for the airline’s turnaround plan.