JOHANNESBURG - The country's unstable electricity grid was placed in the centrefold as team South Africa tried to woo investors.
President Cyril Ramaphosa led a delegation of South African officials in Sandton at the Investment Conference on Thursday. Ramaphosa said years of under-investment, mismanagement and corruption in the electricity sector were to blame for the grid's poor performance.It's not the first time Ramaphosa admitted that the unreliable electricity supply weakens business and consumer confidence, tainting international perceptions about the country."We announced an energy action plan in July last year [2022]. The energy action plan presents a clear path to reduce the severity and frequency of load shedding.
Ramaphosa believes the appointment of the electricity minister will help speed up the implementation of the plan.Kgosientsho Ramokgopa's recent assessment of the ailing power stations saw him call for a focus on improving the existing coal-fired fleet.He said reforms in the electricity sector would help draw private investment.
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LIVE: President Cyril Ramaphosa hosts Investment Conference - SABC NewsPresident Cyril Ramaphosa hosts last Investment Conference aimed at wooing investors to the country. Stage 6 😡😡😡😡😡😡😡😡😡 Invest to run factories with woodfire?This man is mad Matrass sofa investments 🙄🙄🙄
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Cyril Ramaphosa urges investors to back investment drive despite power crisisSA is targeting R60bn in additional pledges by local and international investors Cyril Ramaphosa also urges friendship with Russian mass murderers 15 year power crisis , very confident it'll be sorted while i sit with 11.5hrs of no power today .
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There could be some surprising announcements coming out of the president’s investment conference'... where there is a problem, there is also an opportunity.' Jacko Maree, investment envoy to President CyrilRamaphosa. SAIC2023 InvestSA Moneyweb
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