Federated chamber the National African Federated Chamber of Commerce and Industry (Nafcoc) has welcomed the announcement by President Cyril Ramaphosa that the licensing-exemption threshold for distributed generation projects will be increased to 100 MW from the previous cap of 1 MW.
“We are delighted with this development as it allows ordinary companies and independent power producers to contribute significantly to the country’s energy requirements and it also creates an environment that is conducive to investment in clean energy in South Africa,” says Nafcoc Gauteng spokesperson Refilwe Monageng.
The chamber believes the planned investments in new energy generation capacity provide a key opportunity for mining companies to empower talented young entrepreneurs.
“The government’s shift in policy will create a fertile environment for growth in the mining industry. We call on the mining industry to include young black entrepreneurs as it ramps up investments in energy projects.
“Youth unemployment, especially in previously disadvantaged communities, is unacceptably high, and we cannot hope to achieve sustainable growth as a country, if it continues to be nearly impossible for black people to meaningfully participate in key industries like mining,” Monageng says.
“The private sector has the financial and technical resources to help break through the barriers that stifle black entrepreneurs in mining – what's missing is the will to drive broad-based transformation,” he adds.