An investment plan published Friday envisages 90% of the funds being used to decommission coal-fired power plants in tandem with developing renewable-energy generation, strengthening the transmission grid and modernising the electricity-distribution system. The rest will go toward the development of green-hydrogen and electric-vehicle industries.
“The plan takes its direction from South Africa’s energy and climate policies,” President Cyril Ramaphosa said in a forward to the plan. “These policies reflect our determination to diversify our energy mix and ensure that our transition to a low-carbon economy contributes to our efforts to tackle inequality, poverty and unemployment.”
The investment plan envisages $7.6 billion being invested in electricity infrastructure, $700 million in developing green-hydrogen projects and $200 million in an electric-vehicle industry over the next five years. Almost all of South Africa’s energy is produced from coal by troubled state power company Eskom Holdings SOC Ltd. and the country suffers from regular blackouts. Switching to cleaner sources of power will eliminate thousands of jobs, especially in the eastern province of Mpumalanga, where 90,000 people are employed at mines and power plants.
_Business Ok cool....who gonna watch that cash....ffs Here we go again
_Business They send this useless scam money back.
_Business And where is the rest of it going? Pockets, under beds, in rooftops, farms, foreign property, foreign investments,foreign schooling for the kids...
_Business Yep. The bulk will be invested in the elite and Escom will get nothing.
_Business do we know terms & condition of this loan?
_Business And the 'not so bulk' part?
_Business One day they will take our land with these endless loans and no back bone to whatever they say we should do. SA government gives a yes to everything
_Business 🙏🏽💚👏 God is Good All The Time ✊🌍 onelove oneworld WakandaForever
_Business I didn't know we could do that. Take out loans and invest them. 😳
_Business Lots of Mercedes Benzes will be bought with this
_Business If these funders cared about the pollution, why are they buying our coal in millions of tons?
_Business Bee cader money
_Business So where is that money really going?It's not that government would put up solar energy panels on every house roofing!So again I ask why much money?Ooo it's for rich countries to hold grip on South Africa to do what ever they want - like pump us with vax like we're experiment pigs
_Business Yeh I’m sure it will be invested into black Monopoly Capital by the cANCer cadres! 🤮🤮
_Business
_Business Bullshit, this will once again line the pockets of the corrupt and communist ANC leaders.
the word govt and investment in the same sentence. Govts only spend money. Its ridiculous to think the world will give us money to move away from coal but allow the same coal to be shipped to China to be burnt in their power stations.
_Business They'll invest it into their own pockets ja!
_Business It's loans, stop saying offers
_Business These are the monies you find under the mattress in 4 - 5 years time at government officials homes
_Business Our hard earned tax money should be doing something to make things in our lives better like adding more kw to the grid so load shedding is ruled out,potholes filled up to make roads smoother something
_Business We don't need this loan. This will be an albatross around our neck for generations to come
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