# Rand knocked out by energy crisis – BusinessTech

> South Africa's rand weakened as investor confidence eroded under rolling blackouts from Eskom, the state utility. Investec's Annabel Bishop cut her 2023 growth forecast to around 0.6% from 1.1%, citing the power crisis and Transnet's weakening rail and port performance. She also flagged Eskom's costly diesel use for open-cycle gas turbines.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/38083-rand-knocked-out-by-energy-crisis-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the dollar cost of imported feed ingredients and inputs for South African feed buyers. Persistent power cuts also disrupt processing and farm operations, adding cost pressure.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- businesstech.co.za: https://businesstech.co.za/news/trending/660789/rand-knocked-out-by-energy-crisis/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.