South Africa's economy is at risk of going off the grid as recurring power cuts wreak havoc on the country's businesses and households. Alongside this energy crisis, the nation's central bank is sounding the alarm over potential threats to financial stability. These concerns stem from capital outflows and the possibility of sanctions due to South Africa's stance on Russia's invasion of Ukraine. Joining us from Johannesburg is Azar Jammine, the Director and Chief Economist of Econometrix (Pty) Ltd, the leading independent economic research consultancy in the country.
In addition to our main story, the programme also covers significant developments in the global auto industry and agriculture. China, due to its state-sponsored advances in the electric vehicle industry, has now overtaken Japan as the world’s top auto exporter. This remarkable feat is reported by Yuka Royer.
On another front, Peter O'Brien brings attention to a potentially dangerous environmental gamble being taken in Iraq. The country is heavily relying on the practice of desert water well irrigation for its agricultural sector, a decision that could have significant implications for its environmental and economic future.
