Ending the rolling blackouts that are hampering South Africa’s economy is chief among the government’s priorities. That is the message Finance Minister Enoch Godongwana hopes to convey to world leaders at the World Economic Forum (WEF) this week.
This may be a tall order for a country that, over the past year, has experienced the worst load shedding on record since the rolling power outages were first implemented 15 years ago. Last week saw state-owned Eskom open-endedly implement Stage 6 load shedding, translating to between eight and 12 hours of no electricity per 24-hour period. “Ending blackouts and solving the energy crisis remains among the government’s top priorities,” Godongwana said.
He was speaking at a pre-WEF business briefing ahead of the annual meeting that runs until Friday in Davos, Switzerland.
At this year’s WEF, world leaders will hold meetings and discussions around the theme ‘Cooperation in a Fragmented World’.
The South African delegation includes Minister of International Relations and Cooperation Naledi Pandor, and Minister of Human Settlements Mmamoloko Kubayi. On Sunday President Cyril Ramaphosa’s spokesperson announced that the president will no longer be attending, opting to stay in South Africa to deal with the current chronic bout of load shedding.
“We are aware of the challenges Eskom faces,” Godongwana said, adding that the instability in South Africa’s power supply is one of the biggest barriers to the country’s economic growth.
Speaking to Moneyweb, Professor Jannie Rossouw of Wits Business School said the energy struggles in South Africa have tainted its image, which bodes badly for its appearance at the WEF. — Moneyweb.
