Fri, 13 Dec 2019

Load shedding is tripping up banking ? FNB CEO

16 Apr 2019, 16:13 GMT+10

"It's tough." FNB CEO Jacques Celliers makes no bones about the impact of load shedding on the ability to deliver banking services.

The CEO spoke to Fin24 on the sidelines of an event marking the bank's 180th founding celebration at the bank's offices in Cape Town on Monday.

Why power shortages could get a whole lot worse

'Big responsibility'

Commenting on the impact of load shedding on the SA economy overall, Celliers said that it was disappointing.

"Every day of load shedding takes so much momentum out of an economy that is struggling to keep its head above water."

For this reason load shedding must be addressed to not only keep the banking system functional but to keep the SA economy thriving, he explained.

"It's a big responsibility for everyone to keep the lights on," he added.

Previously at a briefing on the status of the electricity system, Public Enterprise Minister Pravin Gordhan said that Eskom would at most implement Stage 1 load shedding over the winter months.

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