简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
South Africa Declares State of Disaster to Tackle the current energy crisis
Abstract:The South African government declared a state of disaster to tackle the ongoing electricity crisis in the country.

By: Chime Amara

Pretoria, South Africa – The South African government declared a state of disaster last week to tackle the ongoing electricity crisis in the country. The announcement was made by the President of South Africa, Cyril Ramaphosa, who stated that the country is facing an unprecedented energy crisis that is affecting both the economy and daily life. The state of disaster will allow the government to mobilize resources more effectively to address the crisis.
The electricity crisis in South Africa is largely due to the aging infrastructure of the state-owned power utility, Eskom. The utility has been struggling to meet the electricity demand, leading to frequent power outages across the country, also known as “load-shedding.” The crisis has been compounded by financial difficulties faced by Eskom, which has been unable to invest in new power generation capacity, leaving the country with a shortfall in energy supply.
The state of disaster will allow the government to fast-track procurement processes to secure additional energy generation capacity. The government has also stated that it will explore alternative sources of energy, such as renewable energy, to help reduce the country's reliance on Eskom. The state of disaster will also allow the government to allocate additional resources to Eskom to help it address the maintenance issues and improve its financial position.
The announcement of the state of disaster has been met with mixed reactions from the public and business sectors. Some have welcomed the move, stating that it is necessary to address the crisis and secure the future of the country's energy supply. However, others have criticized the government for its slow response to the crisis and for failing to address the root causes of the problem.
In conclusion, the state of disaster declared by the South African government is a significant step in addressing the ongoing electricity crisis in the country. The government's focus on fast-tracking procurement processes and exploring alternative sources of energy will help to secure the country's energy supply and improve the reliability of the power grid. It remains to be seen how the state of disaster will impact the country and the measures that will be taken to address the crisis.

Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Read more

ASIC Launches Preliminary Investigation into Clime Australian Income Fund
The Australian Securities and Investments Commission (ASIC) has launched a preliminary investigation into the Clime Australian Income Fund, examining whether the Fund’s Target Market Determination (TMD) and Product Disclosure Statement (PDS) comply with Australian financial regulations. The investigation will also assess whether any breaches of the law have occurred in relation to the Fund’s investment activities.

HSBC announced a $1.1 billion charge linked to the largest Ponzi scheme in financial history
The British banking giant HSBC Holdings Plc has announced a potential $1.1 billion charge connected to the long-running Bernard Madoff Ponzi scheme, following a legal ruling in Luxembourg. The claim stems from Herald Fund, a European investment fund that sued HSBC over alleged losses related to the Madoff fraud.

BofA Securities pays more than $150K fine to settle its charge
BofA Securities, Inc. (BofAS) has agreed to pay a $155,000 fine and accept a censure from the Financial Industry Regulatory Authority (FINRA) after FINRA found multiple violations of market trading and supervisory rules.

SC Urges Malaysians To Stay Alert As Scam Complaints Double Since 2020
Malaysia’s Securities Commission warns that complaints about unlicensed investment activities have doubled in five years—3,602 cases in 2024 and 2,039 in H1 2025—highlighting increasingly sophisticated scams targeting even professionals and seniors. Schemes often mimic legitimacy, then block withdrawals via “compliance” or “maintenance” excuses. The core defense is pre-investment verification and ongoing risk control.
