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Electricity Minister Could Adjust Targets For Ending Load-Shedding

SOUTH AFRICA
  • Electricity Minister Kgosientsho Ramokgopa hinted that the government might struggle to meet its targets to end load-shedding. The official told BusinessDay on the sidelines of the annual Investment Conference that he would propose adjusting the targets in the coming weeks. Separately, Eskom's board chair Mpho Makwana said at a panel discussion that the utility's transmission company should be established by 3Q2023 as par of the plan to unbundle Eskom into three separate units. These remarks came as Eskom confirmed that it continue to implement Stage 6 load-shedding until further notice due to continued shortage of generation capacity.
  • The biggest labour union at Eskom is requesting a 15% wage hikes. The initial round of negotiations will take place from April 19-21. Eskom said it will comment on the proposals presented by labour unions after conducting its own analysis.
  • The South African Rand soared by the most in two months yesterday, catching a bid alongside the yellow metal, as U.S. PPI figures missed expectations supporting dovish Fed bets.
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