Guest 1 on the line: Solly Moeng - MD of Don Valley Reputation Management and Columnist
Social conversations: Do we really need another Davos meeting?
Notwithstanding the spike in carbon emissions as hundreds of private and government jets ferry delegates to the venue, the second in-person meeting since the Covid-19 pandemic shut the world down comes at a critical time for the global economy.
Economies around the world are battling to recover from a global shutdown, supply chain disruptions, Russia’s invasion of Ukraine, spiking inflation and the rising toll of a rapidly advancing climate crisis.
For the South African delegation, which hopes yet again to highlight the benefits of investing in the country, the task will be momentous.
Power utility Eskom is battling wave after wave of generation breakdowns, plunging the country into sustained stage 6 load shedding. This means the country is without electricity for up to 11 hours a day.
Small businesses are buckling under the pressure of load shedding, unable to employ staff and unable to run optimally.
Estimates are that stage 6 load shedding is costing the country R6 billion a day in economic activity – something we can ill afford.
State-owned logistics company Transnet is on its knees, unable to restore effective freight lines to ports for export. This too is costing South Africa hundreds of millions of rands.
High fuel costs and a massive hike in the cost of living are affecting many countries around the world. The WEF itself highlighted this in its latest global risks report.
Contact: ZOOM