South Africa pushes for renewable energy investment

Africa has the sun, wind, and “mighty” rivers to generate power for 600 million people currently without electricity, President Cyril Ramaphosa has said

South African President Cyril Ramaphosa has called for investment in renewable energy, emphasizing Africa’s potential as a major energy producer and future exporter. He made the remarks during Abu Dhabi Sustainability Week in the United Arab Emirates.

President Ramaphosa participated in the summit’s heads of state panel and spoke extensively about Africa’s significant opportunities in energy generation, highlighting the continent’s potential to contribute to the global energy landscape.

“We have one of the greatest endowments in the world - the sun, the wind, and our mighty rivers. So, a combination of all three, as well as our minerals, gives rise to those opportunities where we can generate energy,” he said.

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He noted that Africa’s 600 million people who still lack energy present an opportunity to leverage the continent’s mineral resources, rather than viewing it as a challenge.

“Instead of exporting rock, soil, and stones, we should now beneficiate, add value to our minerals so that they are properly utilised in the energy generation,” Ramaphosa said.

He stressed that Africa, with its abundant solar and wind resources, is ideally positioned to become a hub for green hydrogen production, leveraging its renewable energy potential to drive sustainable development.

“And doing so, Africa should find itself as an exporter of energy. And the future, therefore, for Africa is a great one, and this is where we invite financiers. We invite investors to come to the African continent because if you want growth, you should come to Africa. We have great opportunities for generating energy and for infrastructure development. Infrastructure development in Africa is going to explode by leaps and bounds,” Ramaphosa said.

Parks Tau, minister of Trade, Industry and Competition, accompanied Ramaphosa alongside other ministers, including Ronald Lamola (International Relations), Khumbudzo Ntshavheni (Presidency), and Mmamoloko Kubayi (Justice).

Tau’s spokesperson, Kaamil Alli, stated that Ramaphosa’s Abu Dhabi visit was by invitation to the sustainability week conference, adding that South Africa utilised the opportunity to promote the country’s investment pipeline and meet with potential investors in the UAE. 

“As the Abu Dhabi Sustainability Conference focus was on clean tech, we met companies in the energy sectors, particularly renewables, but also other areas of energy such as gas infrastructure, rail, port, and hospitality,” he said. 

Alli said the South African delegation held talks with the UAE Sovereign Wealth Funds and agreed to establish a task team with the Ministry of Investment to explore potential projects for UAE investment.

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”We also met companies in A1 and agreed to collaborate and partner in skills development,” said Alli, adding that there were no Memorandums of Understanding signed at the summit.

Ramaphosa challenged the notion that climate action and economic growth are mutually exclusive, arguing that they can be complementary goals. He emphasised that protecting the planet and driving economic growth are intertwined, rather than competing priorities.

”The two have to be seen as mutually reinforcing because you can have climate action and at the same time have economic growth. And in fact, countries that have embarked on climate action strategies have found that those interventions do finally yield economic growth. So, therefore, one needs to see climate action as a driver and an enabler for economic growth.” 

He added that the more countries embrace clean energies, the more new technologies come about and new opportunities open up.

”And we find that there are new sub-sectors of the economy that are established, and where we might close certain sub-sectors, new ones open. And, therefore, it is not a binary question. It is a mutually inclusive and reinforcing approach, and this is what the world needs to embrace now, and in fact, I find that more and more countries that do so, do experience higher levels of growth,” Ramaphosa said.

He further highlighted the injustice that Africa, being the least responsible for climate damage, is “having to carry the burden of what other locals in the world have done to climate change”.

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Thembisa Fakude, senior researcher and director at Afrasid, said the UAE has vast wealth and the potential to drive investment in Africa. In a recent television interview, Fakude noted that the UAE, one of the world’s wealthiest nations, has a substantial wealth fund that is poised to create opportunities, particularly on the African continent. 

Fakude highlighted South Africa’s strategic geographical location, where the Atlantic and Indian oceans meet, positioning the country as a key player in global trade.

He also noted that South Africa is home to the world’s largest platinum reserves, a crucial component in electric vehicles and potentially in AI applications. ”We are very strategic, and I think the president understands the significance of the UAE,” he said.

First published by IOL