As the blackouts become overwhelming, desperation could take over
We know just how badly the electricity blackouts are affecting South African business and the economy in general. Recent company results read like a horror novel.
Take, for example, retailer Pick n Pay. In its trading update for the 43 weeks ended December 25, the company said it spent an additional R346m, year on year, on diesel to run generators at its stores. Competitor Shoprite is in the same pickle: it spent R560m on diesel to operate generators across its South African stores to trade uninterrupted during load-shedding in just the past six months...
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