Ramaphosa: Rolling blackouts hurting economy, needs to come to an end

Ramaphosa: Rolling blackouts hurting economy, needs to come to an end

President Cyril Ramaphosa says urgency is needed to end load shedding.

Cyril Ramaphosa at black industrialists conference
GCIS

He says the rolling blackouts are crippling the economy and disrupting society.


He was addressing the opening of the Inaugural Black Industrial and Exporters Conference in Sandton on Wednesday. 


"Like every other actor in the economy, black industrialists can simply not grow without a reliable supply of affordable energy.


“We have done much over the last four years to transform the country's energy landscape and bring new generation capacity online. But that is not enough. And we need to move faster."


READ: Power cuts take toll on mental health - experts


Meanwhile, an economist says government is currently employing a reactive approach to crises. 


STANLIB's chief economist Kevin Lings says it's not sustainable. 


"It's not about it being about policy, the problem has been an unwillingness and lack of implementation and it feels to me that we have to consistently get to this point of outright crisis, this point of catastrophe before government responds and says ok let's implement something meaningful here. 


"That is a terrible war to run a country where you lurching from one crisis to the next." 


He says this has contributed to the lowest level of investment South Africa has seen.


"Unless you invest in yourself you just not going to be successful. I have never seen a successful business that doesn't invest in itself. Put money back into the business and the same applies to a country."

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