South Africa’s economy contracted the most in a decade in the first quarter as the nation suffered the deepest power outages since 2008. The rand dropped and banking shares slumped. The annualised decline in GDP was 3.2% in the first quarter from a 1.4% expansion in the prior three months, Statistics South Africa said Tuesday. That compared to a median …
South Africa needs “solutions and not more talk shops” to end Eskom’s “monopolistic stranglehold on electricity” and to rescue the crippling economy, said DA spokesperson on public enterprises Natasha Mazzone. Mazzone, who is one of the party’s most vocal leaders on state-owned enterprises, in a statement on Sunday re-iterated the DA’s Independent Systems Market Operator (ISMO) Bill, known as the …
Harare – Zimbabwe’s state power utility imposed the worst rolling blackouts in three years on Monday, with households and industries including mines set to be without electricity for up to eight hours daily. The power cuts are bound to stoke mounting public anger against President Emmerson Mnangagwa’s government as Zimbabweans grapple with an economic crisis that has seen shortages of …
