In a significant turnaround, South Africa has gone 150 consecutive days without any planned power outages, according to the state power utility Eskom.
This achievement showed a dramatic improvement from the record load shedding that plagued the country just over a year ago, disrupting daily life, inflating food prices, and eroding investor confidence.
The recovery plan, implemented in March 2023, has made Eskom’s power stations more reliable and efficient.
The appointment of Kgosientsho Ramokgopa as the country’s first electricity minister and the injection of R250-billion (N23-trillion) by the government to stabilize Eskom have been key factors in this success. Additionally, the appointment of Dan Marokane as Eskom’s permanent CEO in December has contributed to the turnaround.
The improvement in electricity supply has had a positive impact on the economy, with the rand gaining 3.7% in the year to date and trading at approximately R17.70/$. This development, combined with a market-friendly coalition government, has boosted investor confidence and strengthened the currency.
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