Grid collapse would unleash ‘Armageddon’, warns Sim Tshabalala
Standard Bank CEO says the lender’s scenario planning shows that while a collapse of SA’s power grid is possible the probability is low
09 March 2023 - 16:50
Standard Bank CEO Sim Tshabalala says the potential collapse of SA’s power grid would unleash “Armageddon”, sparking off social unrest and a collapse of municipal infrastructure, though he says the probability of this happening is low.
“You can imagine if there’s no power food does not get moved, water does not get pumped, sewerage reticulation falls apart — it’s a proper meltdown,” Tshabalala told Business Day in an interview. “Armageddon will be at our door. [But] I think the probability of Armageddon is very low.”..
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