South Africa generating enough energy to avoid blackouts: Eskom

by Reuters 0

Tanzania says needs $46 bn in power investment by 2040

South Africa’s state power utility Eskom is generating enough electricity to meet demand and avoid chronic power outages that plagued Africa’s most developed economy for most of 2015.

“Eskom has sufficient generation capacity to meet peak demand,” Eskom chief executive Brian Molefe told a new conference, adding that the firm expected to avoid blackouts at least up to 2017.

“Eskom is not a threat to growth anymore,” Molefe said. The treasury’s estimates power outages have shaved off about 1 percentage point from GDP.

Eskom expects increase in export sales

South Africa’s state power utility Eskom expects a significant increase in export sales in the near future, its chief financial officer said on Tuesday.

“We foresee quite a significant increase in export sales,” chief financial officer Anoj Singh told a news conference, adding that in 2015 Eskom achieved a 12 percent rise in export earnings.