From Bloomberg
South Africa has “clear policies” on developing its energy industry to boost growth in the continent’s second-biggest economy, President Jacob Zuma said.
“We have a program to grow the energy so that we grow the economy,” he said in an interview on state-owned South African Broadcasting Corp. yesterday. “We’ve got clear policies, we are making budgets necessary to deal with it.”
South Africa’s state power utility, Eskom Holdings SOC Ltd., staged managed blackouts this year as it ran short of power amid a 225 billion-rand ($19 billion) cash-flow shortfall in the five years to 2018. The nation’s economy will probably expand 1.4 percent this year, a pace that would be the worst since the 2009 recession.
Eskom, South African Airways and the country’s postal service, which has been crippled by strikes this year, are “important assets of the country,” Zuma said. “We must turn them around.”
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