Stage 6 fiasco: Ratings downgrade may now be on the cards, economists warn

Stage 6 load shedding – the worst since 2019 – sparked by a wildcat strike at ailing power utility Eskom could stamp out the SA economy’s recent tentative green shoots, analysts have warned. Amid spiralling unemployment, high inflation and rocketing fuel prices, there have been small pockets of good news. Tuesday saw a marginal uptick in formal employment in the first quarter, while sovereign rating agencies have been looking at the country in a slightly more favourable light.