South Africa’s newly appointed electricity minister Kgosientsho Ramokgopa said the country should not shy away from spending to fix the power crisis as the country faces the worst power blackouts on record
Kgosientsho Ramokgopa, appointed last month to the newly created role, was speaking in an interview less than two months after the National Treasury granted state utility Eskom 254 billion rand ofPresident Cyril Ramaphosa's government has made repeated attempts to improve power availability but failed to make progress.
But he said other interventions were needed including investing in the capacity of the national grid and maintaining large outlays on diesel for Eskom's emergency open-cycle gas turbines. He said that if South African borrowing costs had to rise to fund diesel purchases then that was a necessary trade-off given the impact outages were having on unemployment and growth prospects.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Wall Street slips, dollar gains as Fed seen hiking rates in May By Reuters*WALL STREET SLIPS TO START THE WEEK, DOLLAR GAINS AS FED SEEN HIKING RATES IN MAY $DIA $SPY $QQQ $USD 🇺🇸🇺🇸
Weiterlesen »
Wall St fluctuates as investors weigh jobs report, earnings on tap By Reuters*TECH SHARES WEIGH ON WALL ST AS JOBS REPORT FUELS RATE-HIKE WORRIES $DIA $SPY $QQQ 🇺🇸🇺🇸
Weiterlesen »
Wall Street ends mixed with inflation data, earnings on tap By Reuters*U.S. STOCKS END MOSTLY HIGHER WITH INFLATION DATA, BANK EARNINGS ON TAP $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
Weiterlesen »
Alibaba to roll out generative AI across apps, Beijing flags new rules By Reuters*ALIBABA TO ROLL OUT ITS CHATGPT RIVAL ACROSS ALL ITS PRODUCTS $BABA 🇨🇳🇨🇳
Weiterlesen »
Buffett says he holds 7.4% stake in five Japanese trading houses, including Itochu-Nikkei By Reuters*WARREN BUFFETT SAYS HE HOLDS 7.4% STAKE IN FIVE JAPANESE TRADING HOUSES, INCLUDING ITOCHU - NIKKEI 🇯🇵🇯🇵
Weiterlesen »