South Africa's Energy Revolution: Minister Ramokgopa Leads at WEF

Minister of Electricity and Energy, Dr. Kgosientsho Ramokgopa, has arrived in Davos, Switzerland, for the World Economic Forum (WEF) meeting, where he is expected to spearhead South Africa’s energy agenda. Ramokgopa is part of the South African delegation, led by President Cyril Ramaphosa, at the 55th World Economic Forum annual meeting, currently underway in Davos-Klosters, Switzerland.

“The Minister…has arrived in Davos to join President Cyril Ramaphosa who is leading the South African delegation at the 55th World Economic Forum (WEF) from 20-24 January 2025, to share significant strides South Africa has achieved in energy stability, regulatory reforms, and future energy plans that will enable inclusive economic growth,” the department said in a statement.

The Minister is supported by Eskom Group Chief Executive Dan Marokane and South African Nuclear Energy Corporation (NECSA) Group CEO, Loyiso Tyabashe, who are expected to “support in telling the South African energy story.”

“This year, South Africa is poised to showcase progress in energy reform and its commitment to a sustainable energy future and share how it will use the G20 Presidency to further regional and global sustainability goals. As the nation embarks on an ambitious energy transition, the focus remains on achieving energy sovereignty, fostering sustainability, and promoting inclusive economic growth. The current positive sentiment South Africa enjoys based on stabilizing the energy situation augurs well for its plans to attract investments into the country,” the department said.

The department outlined the key highlights of the country’s energy agenda at the WEF meeting, and these include:

Energy Reforms and Market Transformation: South Africa has successfully eliminated load shedding since March 2024, a testament to the effectiveness of recent energy sector reforms. The Electricity Regulation Amendment Bill, signed into law in August 2024, has modernized the electricity market, encouraging private sector participation and competition.

Elevating Private Sector Participation: The government is focused on increasing generation capacity from 48 GW to 78 GW by 2035, with significant investments in renewable energy, natural gas, and nuclear power. The collaboration between government through Eskom and other state-owned companies and private investors is crucial in driving this transition.

Advancing Renewable Energy Investments: South Africa has procured over 13,422 MW of renewable energy since 2020, with investments exceeding $16 billion. This positions the country as a competitive player in the global renewable energy landscape.

Global Leadership in Energy Transition: As South Africa prepares to assume the G20 Presidency in 2025, the focus will be on addressing global energy challenges, ensuring energy security and affordability, and promoting equitable energy transitions across Africa.

The department added that the South African Energy Family delegation aims to engage with international partners, to showcase the country’s energy market reforms, and explore investment opportunities that will drive South Africa’s energy agenda forward.

“This participation at the World Economic Forum underscores South Africa’s commitment to leading the global conversation on sustainable energy transitions and climate action,” the statement said.

The impact of these developments on South Africa’s socio-economic landscape is profound. Reliable electricity supply is critical for the country’s economic stability and growth.

By eliminating load shedding, businesses can operate more efficiently, leading to increased productivity and economic output. Additionally, the substantial investments in renewable energy and infrastructure will enhance the country’s energy security and position South Africa as a leader in the global energy transition.

On a global scale, South Africa’s achievements send a positive message to investors and international stakeholders. A stable and reliable power supply makes South Africa a more attractive destination for foreign investment, which can drive economic growth and job creation.

Moreover, the shift towards sustainability and profitability aligns with global trends towards renewable energy and efficient resource management.

As South Africa moves forward with its ambitious energy agenda, the nation’s commitment to sustainability, energy security, and inclusive economic growth will undoubtedly have a lasting impact on both the local and global stage.

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