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South Africa’s economy could contract 8.2% this year, and grow just 0.6% in 2021, if a second wave of COVID-19 cases hits the country and its main trading partners, the OECD said on Friday.
South Africa’s energy ministry on Sunday began consultations with industry on preparations for a proposed 2,500 megawatt (MW) nuclear power plant building programme, which has faced opposition from environmental campaigners.
South Africa partly lifted a two month-old coronavirus lockdown on Monday, letting people outside for work, worship, exercise or shopping, and allowing mines and factories to run at full capacity to try to revive the economy.
South African state asset manager the Public Investment Corporation (PIC) has submitted a proposal to government on converting bonds it holds in struggling state utility Eskom into equity, PIC chairman Reuel Khoza told Reuters in an interview.
Zimbabwe’s state power transmission company has invited bids for the construction of 500 megawatts (MW) of solar power plants as part of a drive to increase its use of renewable energy and end power cuts.
South African state utility Eskom plans to correct design defects at all units of its mammoth Medupi and Kusile coal-fired power stations, it said on Monday, after completing modifications on one of the plants’ units.
South Africa’s rand was weaker early on Tuesday, reflecting worries over how the country will fund a 500 billion-rand ($26.5 billion) rescue package for its bruised economy.
South Africa has eased regulations govening small-scale power producers as part of efforts to tackle the country’s energy problems, but industry experts said the changes did not go far enough.
Bustling streets and long queues at supermarkets highlighted South Africa’s struggle to adapt to a new lockdown on Friday, as the country recorded its first coronavirus death.
South African state power utility Eskom ramped up power cuts on Tuesday, after it disconnected a unit at its Koeberg nuclear power plant outside Cape Town because of a fault with the plant’s turbine system.
South Africa's finance minister is expected to walk a tightrope during the annual budget presentation to parliament on Wednesday, as the economy teeters on the edge of a fiscal cliff.
South Africa’s announcement that it will open up electricity generation to other players, effectively breaking Eskom’s monopoly, has been welcomed by many, especially the mining industry, a key sector in Africa’s most industrialised economy.
Power blackouts in South Africa caused by flash flooding have shut down mining operations across the country, several mining companies said on Tuesday.
South Africa was hit by rolling blackouts on Wednesday in a blow for the continent’s most developed economy as it shows signs of rebounding.
South Africa’s rand traded sideways on Monday, with investors holding fire ahead of second quarter economic growth figures that could help gauge the future direction for the currency.
The South African Government has allocated an extra 59 billion rand ($4.24 billion) to struggling state-owned power utility, Eskom, over the next two years so it can service its debt, a special appropriation bill seen by Reuters on Monday showed.
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