Load-shedding to cost South Africa R1.6 trillion in 2023 

Elevated levels of load-shedding in South Africa in 2023 could cost the economy R1.6 trillion in lost economic activity, according to Electricity Minister Kgosientsho Ramokgopa. This is R400 billion more than the previous year.  

Ramokgopa also estimated that elevated load-shedding could result in 860,000 job losses in 2023. This could have disastrous impacts on a country with one of the highest unemployment rates globally, especially among the youth.  

However, recent data suggests that the South African economy is becoming more resilient to the effects of load-shedding as the private sector reduces its reliance Eskom, the state-owned utility. Increased private sector electricity supply, including a significant rise in solar capacity, is contributing to this trend. 

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