Eskom’s load shedding could cut 0.9% off SA’s GDP

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An American multi-national investment bank and financial services company headquartered in New York City, has warned that Eskom’s severe load shedding could cut 0.9% points off the first quarter of South Africa’s Gross Domestic Product.

The Goldman Sach Group says if the current intensity of load shedding persists, it could subtract up to 0.9% points from South Africa’s annual growth.

Political analyst Somadoda Fikeni has described the timing of the power cuts as suspicious…

“Why all of a sudden you do have all these blackouts now? Could they be triggered by the very the very promise of dismantling Eskom or could it be a fight back for the leaders who left before, who are now accused of having run down Eskom or could it other sinister forces, who want to use this moment to influence the outcome of elections, or is it a combination of all these things which have accumulated over the years such as corruption, bringing the entity down to a point where we are beginning to feel the brunt of it?”