South Africa’s central bank has raised concerns about the threat that an inadequate and unreliable power supply poses to financial stability as the country experiences record blackouts.
South Africa has been experiencing energy shortages since 2008, with state-owned utility Eskom Holdings SOC Ltd. unable to meet demand from its old and poorly maintained plants. Constraints in recharging batteries for automated teller machines and cellular network towers, which posed a risk to the effective functioning of key infrastructure on which the financial system rests.
The effect of severe power cuts may not be fully priced into the market, even as local investors appear more pessimistic about South Africa.
_Business Everybody knows it, everybody mentions it, yet sadly, not a single person in government is actually doing something constructive about it.
_Business Only woke up to that now! Eish! All businesses could’ve told you ages ago… eish!
_Business My mall is solar, I am solar, my water is borehole, waterfromair and JoJo tanks. I got about 2 years worth of emergency food and a veg garden. I got a a gun, I got real thick burglar guards and 5 dogs. I work for an international company. Do ur thing MYANC , I'm prepared.
_Business Wonder if the reserve bank ever heard of Tony Seba - the coming disruptions should give them conniptions
_Business Its normal , we have ex Apartheid helpers as president and chief of police that are old buddies. Its a gangster state now .
_Business I sure hope it was a very stern concern that they raised as a standard concern would hardly raise an eyebrow. Maybe now everything will get sorted out after more than 10 years of increasing blackouts. Way to go central bank, keep raising your concerns 🤨👍
_Business Noooooo really? VoetsekANC
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