JOHANNESBURG (Reuters) – The South African Reserve Bank (SARB) said on Tuesday it estimates that scheduled power cuts implemented by utility Eskom will shave about 1.0 percentage points from 2022 economic growth.
Electricity outages in Africa’s most industrialised nation have reached record levels this year as Eskom, saddled with unreliable coal-fired power stations, has struggled to meet demand.
“The SARB estimates that load-shedding will shave about 1.0 percentage points from growth in 2022, which is an additional 0.4 percentage points compared to the previous Monetary Policy Review,” the central bank said in its October Monetary Policy Review released on Tuesday.
(Reporting by Kopano Gumbi; Editing by Andrew Heavens)
