SARB says power cuts to weigh on 2022 growth

5th October 2022 By: Reuters

The South African Reserve Bank (SARB) said on Tuesday it estimates that scheduled power cuts implemented by utility Eskom will shave about one percentage point from 2022 economic growth.

Electricity outages in Africa's most industrialised nation have reached record levels this year as Eskom, saddled with unreliable coal-fired power stations, has struggled to meet demand.

"The SARB estimates that load-shedding will shave about one percentage point from growth in 2022, which is an additional 0.4 percentage points compared to the previous Monetary Policy Review," the central bank said in its October Monetary Policy Review released on Tuesday.