Lesetja Kganyago: Economy would’ve grown in excess of 2% were it not for load shedding

With Eskom announcing that Stage 3 load shedding will continue until further notice, Reserve Bank Governor Lesetja Kganyago has warned that there needs to be change to the overall situation very soon.

Economists say growth will be seriously dented this year as the country has been hit by its longest-ever period of load shedding.

Governor Kganyago says the country was set to see more than 2% growth this year – but this isn’t going to happen.

“We expect the economy this year to grow by 1.9% that means that if we didn’t have the load shedding we would have grown in excess of 2%, closer to 2.5% so the structural issues are real and we have got to deal with them, we must stop talking and execute.”

-EWN

In other news – Trouble in paradise: Londie London & her alleged cheating baby daddy break up

Rumour has it that Mzansi singer, Londie London and her man are no longer an item after her post on Instagram. Londie London’s baby daddy and fiancé has been reported to be a wealthy Kwa-Zulu Natal businessman.

Although his exact figures are not known, his flashy life and expensive cars suggest that he is loaded. Londie London and Hlubi Nkosi’s relationship has dominated headlines in recent months. Learn More