The Cape Chamber of Commerce has warned the country could be heading for a recession if the rolling blackouts continue.
Cape Town - These sentiments are shared by author, James-Brent Styan, who wrote the book Blackout: The Eskom Crisis .
He based his figures on data released by well-known economist, Dawie Roodt, director of Efficient Group. According to Styan, Eskom is technically insolvent and will in all likelihood report a loss of around R30bn in the financial year to end March 2019. He said there was now also some concern about the loss of jobs in coal mines. According to Jacobs, part of the problem is that small businesses cannot afford the back-up power supplies.
“Our advice to every business is to examine every possible way of cutting down on their electricity consumption.“Eskom has not been forthcoming with information, especially on matters like their coal supply and what they are paying for coal. Eskom is now taking delivery of 5100 truckloads of coal a day and each ton that arrives by road costs about R150 a ton more than coal from the mines. How long will the roads hold out?” Said Jacobs.
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