Load shedding is just a passing phase – Zuma

LOAD SHEDDING in South Africa is “a passing phase”, and the government has “good plans” to generate a sustainable energy mix, including new coal power stations and other sources such as nuclear, shale gas, solar and wind sources, President Jacob Zuma said in Davos, Switzerland.

Zuma was addressing captains of commerce and industry on Thursday, during the annual business interaction group meeting, forming part of the World Economic Forum (WEF).

The Presidency said in a statement yesterday that Thursday’s meeting had seen Zuma tell the business leaders that this country offered an opportunity “that no wise businessman or woman would want to miss”.

“We have a stable democracy with checks and balances, we have good systems in place both politically and economically, and we have various projects and programmes that are ready for investments and partnerships,” he said.

On key interventions to boost the economy and inclusive growth, such as infrastructure development, Zuma said South Africa invested in three types of infrastructure – “core economic infrastructure that businesses need, such as energy, transport and water; investment in what is called ‘soft infrastructure’, through building new schools, two new universities and 12 new FET campuses; and social infrastructure, such as sanitation, health facilities and household energy”.

South Africa would also spend more than 1 percent of GDP on science and technology, while education continued to take the largest part of the budget.

The global business leaders, most of whom already have investments in South Africa, asked various questions, according to the statement.

Responding to a question on what keeps him awake at night, Zuma said it was “how to change the quality of life of people, how we can secure employment and deal with inequality”.

Zuma was accompanied by Finance Minister Nhlanhla Nene, Planning, Monitoring and Evaluation Minister Jeff Radebe, Trade and Industry Minister Rob Davies, Water and Sanitation Minister Nomvula Mokonyane, Mineral Resources Minister Ngoako Ramathlodi, Economic Development Minister Ebrahim Patel, Health Minister Aaron Motsoaledi, and Communications Deputy Minister Stella Ndabeni-Abrahams.