Treasury wants to delay the two-pot retirement system; World Bank grants a $1 billion loan; Eskom is in a death spiral; and South Africa faces a nursing competency problem.
The National Treasury has proposed delaying the implementation of the two-pot retirement system – which would allow people to access one-third of their pension savings before retirement – by one year until March 2025 to give the investment industry time to implement systems needed to administer the changes. [The World Bank has approved a $1 billion development policy loan to support electricity market reforms underway in South Africa.
[Eskom’s biggest challenge is selling less electricity due to load-shedding and South African households and businesses moving to more reliable and affordable alternatives. Experts warn that Eskom is dying as it is losing its paying customers, forcing it to increase its prices and drive even more paying customers away.
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