'We give our GDP growth away' due to load-shedding, says Business Unity SA

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SA continues to shed its gross domestic product growth value due to an inability to provide a stable and reliable energy supply, says Business Unity SA president Bonang Mohale.

“The economic damage of the ongoing load-shedding is severe,” Busa CEO Cas Coovadia said in a statement on Thursday, calling for an immediate intervention to deal with the crisis and to “at least manage load-shedding better”.

“Stage 6 load-shedding is a major blow to an economy already battling to achieve growth, because of some global headwinds, but primarily because government is not taking the tough decisions on structural reforms and priority interventions to increase investment and stimulate growth. “The second quarter’s 0.7% decline in the economy was mostly caused by the continued blackouts, which have made this year the worst on record.”enable Eskom, in the short-term, to purchase power from all available resources, to step up repairs to plants, f

ill vacancies on the Eskom board with people who have relevant expertise and hire people with technical skills where there are shortages at the utility.READ MORE:

 

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