South Africa experienced its first load shedding in 2008, a warning sign that was effectively ignored. The subsequent decade saw Eskom become a prime target for state capture under the Zuma administration. The Zondo Commission found that Gupta-linked companies received coal contracts worth billions while existing contracts with reputable suppliers were terminated. Maintenance was deferred to create space for corrupt procurement. New build projects (Medupi and Kusile) suffered massive cost overruns — from R163 billion budgeted to over R300 billion — amid allegations of fraud and mismanagement. By 2022-2023, South Africa experienced its worst-ever load shedding, with Stage 6 (up to 6,000 MW shed) becoming routine. The economic impact has been devastating: GDP losses estimated at R500 billion, thousands of businesses closed, millions of jobs lost or never created, food spoilage, water treatment disruption, and security crises. Former CEO Andre de Ruyter alleged that R1 billion was being stolen from Eskom monthly through diesel procurement fraud and coal contract manipulation.