by MTHULISI SIBANDA
Africa Editor
JOHANNESBURG, (CAJ News) – AMID load shedding battering South Africa, for many, the situation is bleak and optimism is in short supply.
However, there is potential and opportunity, according to an executive.
Mark Boshoff, Nedbank Head of Transformation and Sustainability, believes power utility, Eskom, has set up a comprehensive plan that focuses on its shift to green energy.
There are also financing packages currently providing the utility with the support it needs to achieve these goals sustainably.
Consistent maintenance and repair of struggling power stations is continuing apace with ongoing investment into expertise that’s aimed at establishing energy stability, Boshoff said.
“Current leadership is proving committed to resolving the problems of ageing infrastructure and legacy problems and to bringing about a sustainable end to loadshedding,” he said.
“Organisations need to shore up their investments into resilient power alternatives in the interim to ensure that they remain as stable and capable as possible.”
Boshoff assured that Nedbank provides organisations with trusted investment support and financial expertise to help them manage their growth and their financial planning.
He believes with Nedbank advisors on hand to support companies as they build resilience within a complex load shedding climate, there is potential for growth and optimism and for companies to find opportunity within this ongoing complexity.
South Africa is enduring arguably its most severe power outages ever.
Experts note Eskom has cut 2,276 Gigawatt-hours of electricity from the grid in 2022 and only has an energy availability of around 62 percent.
This is significantly worse than the previous year.
This is exacerbating the woes of an economy that is still struggling to recover from the woes of COVID-19 pandemic.
– CAJ News