IN QUOTES |Tito Mboweni on nuclear power, saving Eskom and structural reforms

27 January 2020 - 12:05 By Unathi Nkanjeni

Team SA, led by minister of finance Tito Mboweni, supported by several cabinet ministers, the Central Bank governor and business, gives an update on key outcomes from engagements at the UK-Africa Investment Summit and the World Economic Forum in Davos.

Finance minister Tito Mboweni says the government has developed a multi-pronged energy strategy involving Eskom.

According to Mboweni, who was speaking at a press conference at the World Economic Forum (WEF) in Davos, Switzerland, this strategy, with renewable energy in the mix, could stabilise the power supply in the medium to long term.

Here are fives quotes from his address:

Multi-pronged energy strategy

“We have now delivered a multi-pronged energy strategy in SA that involves Eskom, but also renewables and other participants, in the generation of electricity in the country. We should achieve a state of power certainty in the medium to long term.”

Pushing of structural reforms

“The government will continue to push for the implementation of structural reforms. Though this may not happen overnight, the government will continue to discuss the reforms with all stakeholders.”

Government's lack of communication

“I think it is our fault as the government that we have not communicated sufficiently the policy positions that we have taken, which are quite revolutionary in a sense that we have decided to have a fairly complex mix of energy system in SA, including owner-generated power, which is a huge development in SA.”

Future SA investors

“I think we did very well. The number of meetings we have been able to hold, in my view, is sufficient and we managed to communicate the South African message quite effectively.”

No bags of investments

“If you came here thinking you’re going to go home with a bag full of investments, [this is the] wrong place. At Davos, we exchange ideas, we debate issues, have conversations and make friendships. Hopefully long-lasting friendships.”


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