Browsing: David Masondo

South Africa will provide fiscal support to the motoring industry to help it transition to producing electric vehicles.

South Africa could save R100-billion by accelerating the closing of coal-fired power plants in return for cheap loans to fund a transition to cleaner forms of electricity.

David Masondo, South Africa’s deputy finance minister, has suggested that investors forgive R146-billion of sovereign debt in exchange for Eskom meeting climate targets.

Eskom CEO André de Ruyter has laid out a funding plan to help the company, which generates the bulk of South Africa’s power from coal, transition away from the use of the dirtiest fossil fuel.

The ANC and business leaders are heading for a showdown over how to revive an economy ravaged by the coronavirus and a two-month lockdown to curb its spread.

Faced with the biggest challenge of any post-apartheid South African leader, President Cyril Ramaphosa has also been given a rare opportunity to push through the painful reforms the economy needs.

South Africa will use money from the sale of broadband spectrum and mining royalties to establish a R30-billion sovereign wealth fund, finance minister Tito Mboweni said.