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.
South Africa’s import of solar panels has reached a new record, with R8.4 billion worth of panels imported in quarter two of 2023, more than double the amount imported in the first quarter 2023.
The total value of imports in the first half 2023 has already exceeded the value imported throughout the entirety of 2022.
According to Dawie Roodt, the chief economist of the Efficient Group, Eskom, South Africa’s power utility, is heading towards a similar fate as other struggling state-owned enterprises like SAA and the Post Office.
Busi Mavuso, the CEO of Business Leadership South Africa (BLSA), discussed the numerous challenges facing businesses in South Africa during an episode of BusinessTech Business Talk. These challenges include a weak rand, load shedding, dilapidated logistics infrastructure, social instability, crime, and policy uncertainty.