President Cyril Ramaphosa has emphasised the significant opportunity for private capital to invest in South Africa’s energy transition during a meeting with 20 – 20 Investment Association on Wednesday at the Union Buildings.
“As we have shown, long-term asset managers and investors will be able to contribute to sustainable clean growth in the fields of renewable energy generation and transmission.
“There is also great investment potential in the development of the electric vehicle manufacturing sector and the generation of green hydrogen for local industrial use and export,” President Ramaphosa said.
The aim of the meeting was to afford President Ramaphosa an opportunity to share with the leadership of the association his views on South Africa’s dynamic political, economic and investment climate.
The meeting was convened in the context of South Africa’s Economic Reconstruction and Recovery Plan with a long term objective to restore the country’s economy to inclusive growth.
The 20 – 20 Investment Association is a non-profit association of global leaders in the financial industry dedicated to learning about investment climate in emerging markets and has a collective membership representing nearly US$8 trillion in investment capital.
South Africa’s black women empowerment group WIPHOLD led by Gloria Serobe and Louisa Mojela is a member of the association.
Among others, the meeting received various inputs from representatives of the association and the President led discussions ranging from the country’s economic growth; energy security; food security and the global economic situation.
Ministers Ebrahim Patel and Pravin Gordhan, and Deputy Minister David Masondo accompanied President Ramaphosa. – SAnews.gov.za