'Might as well pull the plug on investments if SA electricity supply not fixed'

The Daily Maverick's Sikonathi Mantshantsha says billions in investment pledges are pointless if South Africa's electricity crisis is not resolved.

Over R360 billion in investment commitments were made at the investment summit this week.

At the same time, Eskom has been struggling with a grid that has been severely constrained because of unplanned breakdowns and poor maintenance.

RELATED: Load shedding a possibility after 8pm on Friday, warns Eskom COO

Mantshantsha has wondered how much of those billions in pledges will go to electricity projects.

Not much, he surmises.

You can pledge a trillion rand tomorrow and people want to invest it, [but] if you don't have the electricity you might as well let them stay home.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

Not much of it has been earmarked for projects in electricity. That's our biggest gap at the moment.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

How much of that money is going to produce electricity? We've got a shortage right now.

Sikonathi Mantshantsha, Associate editor at Scorpio - The Daily Maverick Investigative Unit

Listen for more on The Finance Week That Was:


This article first appeared on CapeTalk : 'Might as well pull the plug on investments if SA electricity supply not fixed'


Recommended

by NEWSROOM AI
Read More
[WATCH] Parents remember recording 'GoodLuck' Jules' first song at age of four

[WATCH] Parents remember recording 'GoodLuck' Jules' first song at age of four

Kieno Kammies meets Juliet Harding's mom and dad to find out more about the singer/songwriter's musical journey.

Gert van Rooyen's missing victims: Cold case investigators focusing on Durban

Gert van Rooyen's missing victims: Cold case investigators focusing on Durban

Retired detective Don Chandler is appealing to the public for relevant information. The investigating team also needs donations.

[LISTEN] Rising singer songwriter Georgia Rose talks about following her passion

[LISTEN] Rising singer songwriter Georgia Rose talks about following her passion

'My mom gave up on trying to tell me what to do at an early stage,' says Georgia and she has certainly followed her passion.

Equipment, food supplies needed after break-in at Karoo community centre

Equipment, food supplies needed after break-in at Karoo community centre

Grassroot Hope in South Africa runs a number of life skills projects for the kids of Richmond. A robbery has 'cleaned them out'.

You don't have to pay if your car is fixed without your prior consent

You don't have to pay if your car is fixed without your prior consent

It's simple. No quote, no work. The National Consumer Commission explains the basic consumer rights that vehicle owners have.

Televised Trump impeachment hearings to begin with key testimonies this week

Televised Trump impeachment hearings to begin with key testimonies this week

The US president faces the hot seat as the impeachment inquiry into his political manoeuvring begins on Wednesday, live on TV.

Popular articles
SAA doesn't have cash flow to pay unions what they want, says airline exec

SAA doesn't have cash flow to pay unions what they want, says airline exec

Thousands of SAA workers, including cabin crew, technical and ground staff, began striking on Friday to demand higher pay.

[WATCH] Man forgets to engage handbrake, truck almost hits other cars

[WATCH] Man forgets to engage handbrake, truck almost hits other cars

Khabazela shares tweets and Facebook posts that have gone viral.

We have bent over backwards, it appears unions don't want to settle - SAA

We have bent over backwards, it appears unions don't want to settle - SAA

Sacca president, Zazi Nsibanyoni-Anyiam Mugambi and airlines acting CFO Deon Fredricks weigh in on the strike facing the airline.

Can’t find your phone? Drop everything – thieves can get into your banking app!

Can’t find your phone? Drop everything – thieves can get into your banking app!

Did someone steal your phone? Contact your bank without hesitation warns consumer journalist Wendy Knowler.

'Unions are making a mistake. SAA is dying. It’s not Eskom – we don’t need it'

'Unions are making a mistake. SAA is dying. It’s not Eskom – we don’t need it'

SAA is on its knees, cap in hand, asking taxpayers for R2 billion this month. Unions must be careful, warns Guy Leitch (SA Flyer).

Unions and SAA get ready for fight that threatens to break the ailing airline

Unions and SAA get ready for fight that threatens to break the ailing airline

Joanne Joseph plays audio from the media briefing over the impending strike.

White pupils at posh Kingswood College refer to black scholars as 'snoobab'

White pupils at posh Kingswood College refer to black scholars as 'snoobab'

"This problem is bigger than just a Kingswood problem. The relevant processes will unfold," says College Head Colleen Vassiliou.

Investors need to understand redress and sensitivities, says Eusebius

Investors need to understand redress and sensitivities, says Eusebius

Eusebius engages callers on the Richard Branson tweet that has been widely criticised for lacking diversity.