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Browsing: Eskom Corruption
- In 1923, South Africa had over 40 municipalities and 18 private companies, each struggling to dominate the industry.
- Despite the efforts of the SA government to ensure no severe loss, the power outages alone have caused its economy’s GDP to reduce by 1.3%.
- Eskom is about $25.6 billion in debt, which stems from its days as Escom.
Eskom’s corruption and inability to provide suitable power is plaguing South Africa’s economy. The persistent power shutdowns, or load shedding as it is known in South Africa, has significantly hindered the country’s economic growth despite steadily leading Africa’s technological revolution. While weathered power plants have contributed to the meltdown, corruption has been the single biggest contributor to the current power crisis.
South Africa is the most industrialized country in Africa. According to Statista, South Africa had the second-highest GDP in 2021 and pioneered Africa in the 4th Industrial revolution. Unfortunately, it is also …
