NASA: Cape Town water exhausted
Cape Town’s impending Day Zero is likely to have a severe knock-on effect across the entire national economy, widely affecting a number of sectors, and resulting in a possible credit rating downgrade for South Africa.
Speaking to the Citizens newspaper, economist Mike Schussler said that the water crisis is several times worse than load shedding, as not having access to water is relatively permanent compared to rolling blackouts.
This could lead to a number of businesses and industries looking at semigrating so that they can continue business operations in the country, he said.
Depending on how long the drought lasts, he believes that major industries such as IT, transport, agriculture as well as exports will all be significantly impacted as water scarcity limits businesses and causes Capetonians to look for greener pastures.