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South Africa's GDP Dips Amid Power Cuts, Rising Food Prices

Minister in the Presidency, Mondli Gungubele, has expressed concern at the results of the Gross Domestic Product (GDP) for quarter two, which show a decrease of 0.7% after two consecutive quarters of positive growth.

"As a country, we have experienced slow growth and rising unemployment. Nonetheless, in the midst of these difficulties, our general public and economy has shown to be strong," Gungubele said.

The economic development comes amid another period of planned power cuts for the country. According to Eskom, the breakdown and required maintainence of several generation units have exacerbated the capacity constraints.

In addition, four of South Africa's State Owned Companies - Transnet, Telkom, Eskom and the Passenger Rail Agency of South Africa, together with the South African Police Service, have announced an integrated approach towards combatting cable theft, battery theft and infrastructure damage.

Meanwhile, slight relief was provided for consumers with the Central Energy Fund announcement of a decrease in the fuel price across the board - fuel, gas and paraffin - from Wednesday, September 7, 2022.

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