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.
The Consumer Financial Vulnerability Index for the second quarter of 2023 in South Africa has highlighted that consumers are increasingly absorbed by their finances to the detriment of personal relationships.
South Africa’s ongoing load-shedding is expected to cost the country’s economy R400 billion more than last year, according to the Electricity Minister Kgosientsho Ramokgopa.
The Democratic Alliance has accused Eskom and the Mafube municipality of colluding to block the town of Frankfort from using its own solar power plant to reduce the impact of load-shedding.
Eskom, South Africa’s power utility, needs to triple its grid capacity within the next decade at a cost of over R100 billion to accommodate new-generation projects and put an end to load-shedding.