Stage 6 power cuts costing SA economy R6bn a day - Busa
Business Unity South Africa (Busa) president Bonang Mohale says the current levels of load shedding is having a devastating impact on the local economy.
Eskom announced this week that stage 6 load shedding will be implemented until further notice.
Speaking to Jacaranda FM news, Mohale said the planned power cuts have increased by 260% through 2022.
"Let's accept that the economy has been absolutely devastated. Last year the economy lost R550 billion, which means load shedding increased by 260%. We are now in stage 6 load shedding , we lose on average R6 billion a day every day.
"Between stages it’s R500 million we wipe off, an entire one percentage point of the GDP. That's why it is important to recognise the economic impact of load shedding.
Mohale said the extra expense is a heavy burden for businesses to carry.
"It will cost us more to do business, the input costs will be higher, the operational expenses will have increased therefore we will have to cut the cloth to fit the sum. Unfortunately the people who suffer the most again our own employees.
"Nobody in the last five years has had a 10% salary increase. Electricity increases on average has been about 30%, so you pay more for your energy."
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