Blackouts, tariff hikes weigh on businesses, says Werksmans
Many companies could face closure and employees find themselves on the street
16 January 2023 - 19:34
Rolling power blackouts and the steep increases in electricity tariffs could tip many businesses into bankruptcy, putting thousands of jobs on the line, says Eric Levenstein, director and head of the insolvency and business rescue practice group at Werksmans Attorneys.
Big and small businesses are counting the cost after power utility Eskom ramped up power cuts to stage 6 indefinitely, prompting calls from some political parties and civil society members for a national shutdown in protest...
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