South Africans taking out loans to beat load-shedding

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South Africans taking out loans to beat load-shedding
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FNB customers are increasingly taking out “solar loans” to install their own energy solutions at their homes or businesses.

FNB customers are increasingly taking out “solar loans” to install private energy systems at their homes or businesses.that these customers are clearly desperate to escape load-shedding.

Standard Bank’s head of banking products, Steven Barker, said that the bank was experiencing a similar trend — particularly involving customers funding solar-powered systems to around R150,000 to R170,000. Eskom board chair Mpho Makwana also asked homes and businesses to invest in alternative energy technologies.

President Cyril Ramaphosa, accompanied by Mineral Resources Minister Gwede Mantashe and Mining Indaba Advisory Board Chairperson Mpho Makwana, arrives at the Cape Town International Convention Centre to deliver the keynote at the 25th annual Investing in Africa Mining Indaba. February 2019.While the immediate reaction to these tax rebates was largely positive, experts soon pointed out that the rebate system could have been better implemented.

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