After many months of negative economic results, South Africa can use some good news. The announcement August 30 of the inauguration of the nation’s first new power plant in twenty years is significant for South Africa’s anemic economic health.
ESKOM, the state owned electric utility, has been suffering from poor management and poor planning for over a decade. As a result, the expansion of electric power has not met the growing needs of both industrial and household users. Unprecedented rolling power outages have become the norm. New industrial investments have been discouraged because of the power deficit. The decline of ESKOM has done significant damage to the overall economy.Read More