Nedbank’s full-year results highlighted the billions of rands invested in alternative power generation amid rampant load shedding.
South Africans spent around R1.2 billion on private power generation to escape Eskom and load shedding in 2022, with the bank expecting an even bigger spend in 2023.
Return on equity increased to 14%, above the prior period of 12.5%, assisted by the group’s improved return on assets which increased from 0.98% to 1.14%. Because of these losses and the dire impact blackouts have on businesses and households, South Africans have been looking for any escape. Preferred-bidder status in round 5 for another four projects, which is also expected to close in H1 2023;Nedbank also noted that it had arranged 42 transactions in the Renewable Energy Independent Power Producer Procurement Programme The bank said that the higher levels of electricity outages in the second half of 2022 had a material adverse effect on many of its clients.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Eskom Files: The ultimate guide to News24’s Eskom coverageThis is the ultimate guide to News24’s Eskom coverage – and the best way to understand the problem from every conceivable angle.
Read more »
The top 10 hybrids that South Africans want to get their hands on – with pricingThe top 10 hybrids that South Africans want to get their hands on - with pricing
Read more »
MICHAEL MARCHANT & HENNIE VAN VUUREN: How crisis-ridden NPA has failed South AfricansDon’t believe the spin from the prosecuting authority: it’s a long way from being able to successfully litigate complex state capture cases and economic crimes, write MikeMarchant13 and hennievvuuren.
Read more »
John Steenhuisen asks South Africans for one term🚨 JohnSteenhuisen asks South Africans for one term, during which he vows to prioritise loadshedding and unemployment. 🔌🛠️ Thoughts? Tell us below. SouthAfrica ElectionManifesto DA Read more on TheCitizenNews 👇
Read more »
President to announce new exec on MondaySouth Africans are waiting to see who'll replace deputy president, David Mabuza.
Read more »