Around 66% of township businesses have cut jobs due to load shedding, a report has found.
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GUEST – Bulelani Balabala – Founder of Township Entrepreneurs Alliance (TEA)
Almost two-thirds of township businesses have been forced to shed jobs because of load shedding, according to a new report. But business owners say the situation is even direr – they face closing if the power outages continue.
According to the Nedbank Insights Report, conducted in partnership with the Township Entrepreneurs Alliance (TEA), 64% of small township businesses cease operations during load shedding and almost 66% of business owners have cut jobs because of load shedding.
The jobs cuts were most visible in the food and beverage sector, as well as manufacturing.
The report also found that load shedding has led to increased operating costs, lost revenue and declining margins.
Almost two-thirds of township businesses have been forced to shed jobs because of load shedding, according to a new report. But business owners say the situation is even direr – they face closing if the power outages continue.
According to the Nedbank Insights Report, conducted in partnership with the Township Entrepreneurs Alliance (TEA), 64% of small township businesses cease operations during load shedding and almost 66% of business owners have cut jobs because of load shedding.
The jobs cuts were most visible in the food and beverage sector, as well as manufacturing.
The report also found that load shedding has led to increased operating costs, lost revenue and declining margins.
