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Covid Cases Spike above 8000, Eskom Under Pressure as Load-Shedding Worsens

SOUTH AFRICA

LOCAL NEWS

  • Covid cases spike yesterday, reaching 8,881 new cases and 127 deaths. NCID notes the uptick is evidence of the predicted third wave. Moves above 10k will likely precipitate harder restrictions in the coming weeks.
  • Eskom moves to stage 3 load-shedding (0800-2200) from stage 4 late last night after a slight improvement in generation performance.
    • However there have been additional breakdowns at Kusile, Matla & Tukta plants.
    • Experts warn Eskom's power struggles will continue unless something is done to upgrade its ailing infrastructure.
    • Eskom's plans to conduct over 4,000mw of maintenance next week are likely off the table
  • Govt says it will likely keep a smaller percentage of its SAA shareholding and the airline will not change its name.
    • Negotiations with the strategic equity partner are at advanced stage with due diligence likely to be completed in 6-8 weeks
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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