July 13, 2019 IBOMLLC Team

South African Energy Minister: Stable, Predictable Policy and Regulatory Framework Must Be Created

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

South African Energy Minister: Stable, predictable policy and regulatory framework must be created
Announcing a budget of R7.44 billion for energy, the Minister noted that the sector had contributed negatively to overall economic growth in the first quarter of 2019
“A stable, predictable policy and regulatory framework must be created that will lead to investment and growth in South Africa’s energy sector”, says the country’s Mineral Resources and Energy Minister, Gwede Mantashe.

Minister Mantashe was delivering his first energy budget speech in Parliament since the merging of his mineral resources portfolio with that of energy following South Africa’s general election in May this year.

Announcing a budget of R7.44 billion for energy, the Minister noted that the sector had contributed negatively to overall economic growth in the first quarter of 2019, declining by 6.9% and making a 0.1% contribution to an overall GDP decline of 3.2%.

“Despite the present economic climate and stringent allocations, we must ascertain a secure and sustainable provision of energy,” he said.

“In this context, (we must) utilize diverse energy resources in sustainable quantities at affordable prices, and mindful of environmental requirements, to support economic growth …read more

Read more here:: South African Energy Minister: Stable, Predictable Policy and Regulatory Framework Must Be Created

      

IBOM LLC

We're passionate about your business and we only offer the best solutions.