‘We Are Left With Confusion’ – Financial Services Firm Says Cabinet Meet On Eskom Failed To Produce ‘Meaningful & Reassuring’ Message

Financial services research firm, Intellidex South Africa, says last week’s emergency Cabinet meeting “missed the bar” in terms of aggressively addressing the Eskom crisis and reassuring investors.

The cabinet meeting came at the end of a week that had seen the implementation of unprecedented stage six load shedding, and President Cyril Ramaphosa cutting short his Egyptian visit to deal with the country’s seemingly never-ending energy crisis.

Intellidex released their strongly-worded statement Tuesday following a briefing by Minister in the Presidency Jackson Mthembu on last week’s Cabinet meeting.

Mthembu announced several measures to tackle the energy emergency, including:

• incoming Eskom CEO Andre de Ruyter be asked to start working ahead of the originally scheduled date of 15 January 2020,
• legislation to regulate biofuel energy, and
• the reintroduction of the Eskom ‘war room’ to tackle energy supply challenges.

These interventions failed to impress Intellidex, though, with the firm referring to the Cabinet