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Foreign investors have been selling South African government bonds at a high rate of almost 2 billion rand (roughly $130 million) per day this month amid fears of a credit downgrade by Moody's Investors Service, Bloomberg reported Aug. 14.
The ruling African National Congress (ANC) party’s head of economic transformation, Enoch Godongwana, stated that South Africa’s banks should be forced to invest in new coal plants, Bloomberg reported May 5.
The South African government is not expecting job losses as it looks to strengthen the beleaguered power utility monopoly Eskom by splitting it into three separate companies, according to South African President Cyril Ramaphosa, Bloomberg reported May 3.
South African power utility Eskom was forced to continue rolling blackouts on March 18 after a cyclone damaged electricity pylons in Mozambique, which has siphoned an additional 1,000 megawatts from South Africa's electricity grid, Reuters reported.