ECONOMY SOUTH AFRICA

Rand Hits Six-Month High as Load Shedding Stage Drops to Zero

Rand Strengthens

The rand traded at R17.82 to the US dollar on Friday, a six-month high, following confirmation from Eskom CEO that Stage 0 load shedding would extend through the summer months due to improved generation capacity.

The JSE All-Share Index climbed 2.3%, led by resource stocks. Analysts note that sustained electricity stability could add 1.5 percentage points to GDP growth projections for the year.

National Treasury cautiously welcomed the development but cautioned that structural reforms in other network industries remain necessary for durable growth.

This article was reported by the AfriDevMonitor editorial team. Additional reporting contributed by our correspondents in Addis Ababa, Nairobi, Lagos, Johannesburg, and Cairo.