South Africa's unreliable power supply and high level of government debt are two of the main risks to its financial stability, the South African Reserve Bank said on Tuesday.
“Insufficient and unreliable electricity supply is likely to threaten the viability of some corporates, especially small and medium-sized enterprises,” it said, adding this could spill over into the financial sector. The FSR also noted global stagflation and rapid tightening of financial conditions coupled with slow and inequitable local growth could add further risk.
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Reserve Bank flags risks of erratic energy supply, high debtThe country has seen 170 days of rolling blackouts this year, hitting corporate productivity and hurting investor sentiment.
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