With the cost of living skyrocketing, consumers are about to be hit by another electricity price hike if Eskom gets its way. This is despite persistent load-shedding that has had a damaging effect on SA’s long-term economic growth and small business development.
Not surprisingly, as a result of the uncertain growth outlook, energy insecurity and our appetite for bailing out irredeemable state-owned enterprises, the World Bank has cut SA’s growth forecast to below 1% for 2020. This downward revision is indicative of an economy that has deteriorated, with SA’s credit rating now on the skids towards junk status...
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