South Africa's Unreliable Power Supply Is a Problem for Business Owners

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Joseph: South Africa is one of the most industrialized economies to be undergoing this kind of intense level of power outages. It's very unusual, actually, around the world now for a country's electricity supply to be that integrated by kind of one state, but not pretty, he says. Joseph: Until very recently, it was a very difficult for businesses to help themselves beyond the problems of Eskom - which run the gamut from aging coal power stations to corruption and graft.

The International Monetary Fund says that global economic growth has proven “surprisingly resilient” in its latest forecast, Renault and Nissan reached a deal to save their 24-year-old alliance and sources tell FT that the Biden administration has stopped providing US companies with licences to export to Huawei. Plus, South Africa’s unreliable power supply has slowed economic growth.

Mentioned in this podcast:

IMF raises growth forecasts as gas prices fall and China reopens

Washington halts licences for US companies to export to Huawei

Renault and Nissan hammer out historic deal to salvage alliance

South African businesses turn to diesel and solar panels as Eskom crisis deepens

EU to relax curbs on tax credits in response to US green subsidies

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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