"South Africa’s rand has weakened about 6% against the dollar this year, the worst performer in a basket of 16 major currencies tracked by Bloomberg. That’s as investors place a premium on the currency as intense electricity rationing and logistics-network constraints erode economic growth prospects, disrupt local supply chains and stoke inflation.

Africa’s most-industrialised economy is suffering its worst-yet electricity rationing, with state utility Eskom implementing rolling blackouts of as much as 12 hours on all but one day this year, according to data compiled by Bloomberg. The outages prompted the International Monetary Fund to cut its 2023 economic growth forecast to 0.1% from 1.2%."

#SouthAfrica

https://www.moneyweb.co.za/news/economy/sa-to-hike-as-load-shedding-stokes-inflation/