says government should invest in building new power plants in order to meet the country’s electricity demand.Eskom says it could take up to a year to resolve the electricity crisis:
The Che Guevara memorial lecture was attended mostly by members of the SACP, in their regular colourful red t-shirts. “We have 12 million cars in the country, South Africa think about the situation whereby by 2030 at least 6 million of these cars are electric vehicles. Where are we going to get power? So the state has to invest in new power generation capacity and it has to plan that well in advance. It has to build power stations to supply people, we cannot rely on profit-driven interests to meet the needs of the people as far as electricity is concerned.
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South African rand weakens after strong U.S. jobs data; stocks slideSouth Africa's rand weakened on Friday, as the dollar strengthened after a stronger-than-expected U.S. jobs report suggested the Federal Reserve will likely stick to its aggressive tightening policy for now.
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