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Generating Unit Breakdowns Prompt Further Eskom Power Cuts

SOUTH AFRICA
  • On Wednesday, it was announced that South Africa’s state-owned power utility Eskom Holdings SOC Ltd. will remove 4,000 megawatts from the national grid from 4 pm to 5 am until further notice and 3,000 megawatts from 5 am to 4 pm due to breakdowns at four generating units. That's an escalation from alternating between Stages 2/3 which had previously been announced yesterday.
  • The latest CEO Outlook for South Africa from financial services firm KPMG found that over 80% of CEOs in the county have implemented or plan to implement a hiring freeze in the next few months. According to KPMG, organisations and their executives are being pressured to re-evaluate their strategies in light of the impending recession, with talent retention being one of the key issues being addressed.
  • There will be no South African data releases until Friday, when money supply, private sector credit, trade balance and budget balance are due.

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