President Cyril Ramaphosa has reaffirmed South Africa’s commitment to energy reform, stating that the country will lay the foundation for a competitive electricity market in 2024.
Speaking during his annual State of the Nation Address (SONA), he highlighted the progress made through the Energy Action Plan in stabilising power supply.
“The measures we have implemented through the Energy Action Plan have reduced the severity and frequency of load shedding, with more than 300 days without load shedding since March 2024,” Ramaphosa said.
While acknowledging that load shedding briefly returned last week, he emphasised that South Africa is on a positive trajectory.
“We now need to put the risk of load shedding behind us once and for all by completing the reform of our energy system to ensure long-term energy security,” he stated.
A key milestone in this reform journey is the Electricity Regulation Amendment Act, which took effect on January 1.
According to Ramaphosa, this legislation marks the start of a “new era” by enabling a more competitive electricity market.
“This year, we will put in place the building blocks of a competitive electricity market,” he announced. “Over time, this will allow multiple electricity generation entities to emerge and compete.”
To support this shift, the government will mobilise private sector investment in the transmission network, helping to integrate more renewable energy sources into the grid.
Ramaphosa also highlighted South Africa’s growing role in the global clean energy transition.
He noted that the Just Energy Transition is gaining momentum, with over $13 billion pledged by international partners and substantial private investment flowing into the sector.
“We are determined to meet our carbon reduction commitments, and will do so at a pace and scale that our country can afford,” he assured.
With these reforms, South Africa is taking decisive steps toward energy security, economic growth, and a sustainable future.
President Cyril Ramaphosa has announced an ambitious plan to secure R100 billion in infrastructure financing by engaging local and international financial institutions and investors.
Speaking during his annual State of the Nation Address (SONA), Ramaphosa emphasised that large-scale infrastructure investment is key to accelerating economic growth and job creation.
“To create this virtuous cycle of investment, growth, and jobs, we must lift economic growth to above three percent,” he said.
To achieve this, the government is prioritising massive infrastructure investments while maintaining and upgrading existing assets.
A project preparation bid window has been launched to fast-track investment readiness, supported by revised public-private partnership regulations aimed at unlocking private sector expertise and funding.
Over the next three years, the government plans to invest more than R940 billion in infrastructure, including R375 billion from state-owned enterprises. This funding will be channeled into revitalizing roads and bridges, modernizing ports and airports, building dams, and strengthening power generation capacity.
“We are steadily removing the obstacles to meaningful and faster growth,” Ramaphosa said. “The economic reforms we are implementing through Operation Vulindlela have created a new sense of optimism and confidence in our economy.”
