SA economy is facing a big setback – Industrialists and entrepreneurs are packing up and leaving SA due to Eskom’s huge tariff increases

The ANC’s president’s dreams are shattering at this time because of the huge tariff increases Eskom is now charging the municipalities.

Big institutions say they are tired of Eskom’s reckless tariff adjustments, and some industrialists have already packed up and left the country.

Industries that is depended for electricity to the manufacture of certain goods, such as the aluminium industry, have already left the country and moved their businesses to the Far East where power supply is stable and tariffs are much cheaper.

Anglo Platinum and Sibanye-Stillwater are two high profile industries that have already started investigating how to generate their own electricity to get rid of Eskom’s unpredictability with power delivery and tariff adjustments.

Meanwhile, many smaller businesses have begun to become self-sufficient with solar and standby generators and in many cases even cut their Eskom connections.

Potential industrialists and businesses who wanted to come to South Africa became headache and left for other countries where stability and security exist.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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