Rand tumbles 1% as Eskom plans nationwide power cuts | IOL Business Report

JOHANNESBURG - South Africa’s rand tumbled more than 1% on Wednesday to its softest level in a week after state power utility Eskom said it would implement nationwide blackouts for the first time in more than

six months due to capacity shortages. Eskom said it will cut up to 2,000 megawatts of power from the national grid on Wednesday due to a shortage of generating capacity, starting at 0700 GMT and up until 2100 GMT.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: Rand extends losses as risk sentiment wanesThe rand is likely to remain volatile as markets await the medium-term budget; the rescue plan for Eskom; and a credit-ratings review from Moody’s
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: Rand extends losses as risk sentiment wanesThe rand is likely to remain volatile as markets await the medium-term budget; the rescue plan for Eskom; and a credit-ratings review from Moody’s
Source: BDliveSA - 🏆 12. / 63 Read more »

SA must reduce cost of doing business to attract investment - Ramaphosa | IOL Business ReportSA must make it cheaper and easier to do business in the country in order to attract the investment necessary to build the economy at a faster pace. busrep busrep SA must allow exploitation of workers. busrep What’s the point of getting the investment when all the jobs are being taken by Migrants? Ramaphosa is an idiot! He is issuing millions of work permits to migrants and yet he says he is creating jobs for South Africans. This President is mad! busrep Government needs to deal with corruption, stop peddling lies. The ANC is the problem, as they are only interested in filling their own pockets. I have never seen a more destructive force than the ANC at work. They wont be happy until there is nothing left, then blame apartheid
Source: IOL - 🏆 46. / 51 Read more »