Drop in value of new projects shows power cuts and uncertainty fuel investment strike
Divisions within government on how to stabilise the electricity supply do not inspire confidence, says economist
07 February 2023 - 19:54
UPDATED 07 February 2023 - 22:50
The value of large investment projects in SA’s economy slumped by more than a third in 2022, reflecting the devastating effect blackouts — as well as the deterioration in global growth prospects — have had on business confidence.
SA experienced more than 200 days of rotational power cuts last year and has had blackouts every day so far in 2023. The poor performance of the state transport utility and a plethora of other problems have combined with the energy crisis to dent confidence...
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