Excerpts from our latest reports

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Eskom debt (solution) scenarios

Eskom’s debt transfer is likely to be South Africa’s largest liability-management exercise. South Africa’s National Treasury indicated that one to two-thirds of Eskom’s R400 billion outstanding debt could be transferred to the sovereign’s balance sheet in 2023.

mining site

Precious metals sector

Faced with increasing bouts of stage 4 to 6 load shedding and an 18% electricity tariff increase, organisations are reeling from the impact of Eskom’s woes. In this report, we attempt to quantify the impact of load shedding on the mining sector, both in terms of lost output and the cost to the fiscus (lost GDP).

Load-shedding stages and their impact on inflation

Assuming South Africa’s load-shedding intensity normalises between stages 4 and 5 this year, we could see up to 40 basis points of upward pressure on headline CPI if the complete cost of back-up power is passed to the consumer.

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