South Africa recently experienced its worst week of load shedding in history, with rolling Stage 6 blackouts hitting the economy hard. The last time we had Stage 6 load shedding was in December 2019 and it only lasted for less than a day. This comes after the country was hit with record-breaking fuel costs, making 2022 a history-making year in the worst of ways.
While the country was supposed to be recovering from the COVID-19 economic standstill of 2020, instead, we’ve been struggling to keep our heads above water amidst rising inflation and living costs. Now, more than ever, businesses need to do whatever they can to keep their doors open. Our people cannot afford to lose more jobs – every single cent and sale is crucial for the survival of households and businesses teetering on the edge.
According to Business Tech, Stage 6 load shedding has already caused significant damage to the country’s economy, with over R4 billion wiped from the GDP for each day it was implemented.
Eskom said that the national energy supply in South Africa had deteriorated further due to an ongoing industrial action, forcing it to cut power supply for six to eight hours a day. Eskom spokesperson Sikonathi Mantshantsha said this was due to the unlawful and unprotected labour action, which had caused widespread disruption to Eskom’s power plants.
Added to this, South African consumers were faced with another R2 per litre increase for fuel, which pushed up inflation in addition to higher electricity prices and the Stage 6 load shedding. According to Moneyweb, this will have ramifications such as lost investment, a negative impact on SA’s already sub-investment grade credit rating, and deteriorating business- and consumer confidence levels.
With the prospect of more electricity rationing to come, businesses will need to look for ways to survive without traditional power supply.
Empower your business to keep running
Businesses depend on electricity every day for everything from running machinery and preserving products to keeping systems running and data saving, not to mention ensuring employees and customers are comfortable and safe. With a generator, you can resume normal productivity and operations.
However, high-quality generators come with a hefty price tag, and the cost to keep them running is high, thanks to the mounting fuel price.
To help ease the burden that local businesses are facing, RentWorks has crafted a unique solution for South African companies. You can now take advantage of our flexible financing plan that will empower you to source a generator that suits your needs from the supplier of your choice!
Our exclusive generator financing solution is fully flexible, meaning we can work together to structure a deal that will meet the unique needs and business drivers of your company.
And with no deposit required upfront, you can keep the lights on right away.