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2023 Begins Under Persistent Spectre of Load-Shedding

SOUTH AFRICA
  • Markets begin 2023 under the pinch of rolling blackout pressure once more, as Eskom rolled back on a pledge to ease load-shedding from New Year’s Eve. The utility are now to carry on with load-shedding indefinitely as five generators remain offline.
  • BusinessTech cite the DMRE as stating that Eskom has options to deal with its diesel crisis, following a rejection of their application for a diesel wholesaler licence. Eskom lacked specific requirements – including import infrastructure and sufficient storage facilities.
  • After an early hiatus for the ANC national conference before Christmas, the ANC SecGen Mbalula is to brief press today on the agenda for the remainder of the conference that’s due to resume from Thursday.
  • DMRE data shows petrol and diesel prices will see a significant step lower this week, with the January price reductions the result of significantly lower international oil prices and, to a lesser degree, a stronger ZAR. The AA add that this means prices are now at their lowest since January last year.
  • One of the most-read pieces in the IOL in recent days cites Political analyst Seepe, who warns that South Africans face a bleak year following the re-election of “auctioneer” Ramaphosa. The piece writes that none of the ANC leaders elected in December have what it takes to change the fortunes of the majority of South Africans.
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