South African President H.E. Cyril Ramaphosa announced that the Government is implementing measures to ensure a more stable energy supply, during a keynote address at the 27th Investing in Mining Indaba virtual event on Monday.
The President noted that a more reliable and affordable power supply is critical for the growth of mining and other energy-intensive sectors, which will in turn stimulate employment, industrialization and socioeconomic development.
“We have witnessed the impact of high-cost, unreliable energy supply in the sector in South Africa,” said President Ramaphosa. “We are working to broaden our energy mix and enable energy generation for own use, and reform and strengthen the capacity of the state power utility Eskom.”
The President added that these challenges will be addressed through the Integrated Resource Plan 2010-2030 – a national development plan that provides for the expansion of electricity generation and distribution over the allotted period – along with enhanced policy certainty.
“To ensure we increase the contribution of both mining and energy to meeting our developmental aspirations, we have taken significant steps to resolve policy and regulatory issues that investors have identified previously and raised with us as constraints to greater investment.”