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South Africa: Power grid under pressure as workers protest over pay

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epa04789193 Eskom power lines run through an open field as the sun rises on a cold winters day in Johannesburg, South Africa, 08 June 2015. Eskom, the national power supply company, is facing huge power shortage issues with the country having regular power outages. The country has no private power services as the parastatel struggles with ageing hardware and lack of leadership.  EPA/KIM LUDBROOK

South Africa’s power grid was under pressure on Friday, with controlled blackouts possible, due to workers protesting over pay, a test of new President Cyril Ramaphosa’s efforts put the state electricity provider back on a stable financial footing.

A spokesman for Eskom, which produces more than 90 percent of South Africa’s power, said the grid was stable but controlled outages were possible in the evening if workers were prevented from turning up for duty.

Cutting costs at troubled state entities such as Eskom is a top priority for Ramaphosa, and the current labor unrest will test his administration’s commitment to reforms.

Eskom implemented power outages late on Thursday after hundreds of union members protested over wages and prevented others from showing up.

 

 

Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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