Nuclear Plan – “We have excess power and no money”

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South Africa’s Deputy President Cyril Ramaphosa on today, 25 January 2018, reiterated that a proposed nuclear build programme will only be considered in the broad context of affordability, but warned “we have excess power and we have no money.”

Ramaphosa, who was asked at a press conference at the World Economic Forum (WEF) in Davos, Switzerland, if South Africa is still proceeding with its nuclear build programme, replied that “we have got to look at where our economy is.”

“We have excess power and we have no money for major nuclear plant building, and all of this really needs to be looked at in the current context that we are in. For instance if you have excess power and you don’t have the money, and we have already said that this nuclear process will be looked at within the broad context of affordability and what we currently have,” he said.
 
“If, in our discussions as we proceed, we find that it doesn’t in the end really make sense because we don’t money, that is the type of discussion we will have.”

Corruption

Ramaphosa described the pending commission of inquiry into state capture as a “huge plus”, as “we are now going to go to the depths of what corruption has been taking place in our state-owned enterprises (SOEs).”

Ramaphosa was speaking during a press conference at the World Economic Forum (WEF) in Davos, Switzerland, shortly after the commission’s terms of reference were published in the Government Gazette.

The terms included that any ill-gotten gains attained through a potentially compromised relationship between President Jacob Zuma and his family and the controversial Gupta family will be investigated by the Zondo Commission, to be headed by Deputy Chief Justice Raymond Zondo.

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 15 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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