The incessant decrease in power supply over a long period has become a recurrent issue in so many African countries and this has become a threat to the survival of small and big businesses on a massive scale. PowerCut creates a ripple effect across many other sectors, but in this video, we (@joetunex and @josediccus) chose to talk about how it majorly affects businesses in South Africa and Nigeria respectively.
We analyzed the resources at the deposal of these two countries and talked about the possibility of having constant power without undergoing the process of load shedding, this is the reduced redistribution of power on a smaller scale to serve a larger amount of users over a specific time.
We went on to talk about smaller businesses as the biggest losers as bigger businesses can run their business using other power alternatives as they can easily attain economies of scale, and as they seek other options to run their businesses.
We analyzed the difference in Powercut as if differently affects the two countries, we then went on to talk about the potential impact on foreign investors and how they might seek out other countries with stable electricity to do business with.
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Guys these power outages are influencing the economy on so many levels. We can't buy in certain shops if power goes out. I can't teach during loadshedding. Generators are expensive and we can't even use that... I think this was n great topic to discuss.
Wow, from what country are you experiencing all these?
South Africa 😶
Wow, saddening, take comfort in the fact that Nigeria is worse.
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The other day I couldn't swipe at the till point in PnP during load shedding, transaction was declined fortunate had some cash in my wallet for payment. So, I can relate, even the smallest of things is being affected by load shedding and it is just getting worse.
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You cannot run a business effectively without interruption of electricity.
This is absolutely true but then, it has to be minimal to some extent, having constant interruption might disrupt so many working system that's already set in place and that's why we talked about it..
One is bound to incur losses when profits start going towards trying to keep the electricity on for business.
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A good example is to try running a mining Bitcoin farm in Nigeria.
Crypto is currently being outlawed in Nigeria... It's a huge shame
It is a shame, but people keep going, making peer-to-peer transactions.
Unless the Bitcoin mining farm is powered through solar energy in Nigeria or even South Africa there are bound to be losses.
I wonder if there is Bitcoin mining u=in Nigeria though?
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With renewable energy like solar panels, I believe is workable. I just learned that crypto is outlawed in Nigeria.
Last time I read in the news it is outlawed, interestingly the number of cryptocurrency users in Nigeria continues to rise.
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