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Vol 64 No 21

Published 19th October 2023

South Africa

Eskom chaos is at the heart of the growth crisis

Unless the power utility gets credible leadership and more investment to boost generation and transmission it will continue to hold the economy down

The IMF's latest data forecasts South Africa's economy will grow by 0.9% this year, up from projections in July of 0.6%. The marginal improvement is based on fewer power cuts than expected in the second quarter this year. It is estimated to grow by 1.8% next year, a critical election time for the ruling African National Congress. But growth in South Africa, the continent's most industrialised economy, is still lagging far behind its peers in Africa and Asia.

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