As South Africa confronted the hardships of Stage 4 load shedding this week, President Cyril Ramaphosa announced an increase to the Nersa licensing threshold for embedded generation projects from 1 MW to 100 MW, on Thursday. Here is his speech, announced at a virtual briefing.
We are holding this briefing today in a time of great hope and great difficulty.
Difficulty, because we are in the midst of the worst economic crisis in our country’s recent history, which has seen a dramatic increase in unemployment and hunger and a significant decline in economic growth.
Hope, because we are already starting to see the results of our efforts to recover and to rebuild.
In the GDP figures released by Statistics South Africa this week, in the encouraging signs of a revival in many sectors of our economy, and in rising business confidence, we are seeing the green shoots that emerge after a devastating fire.
We are witnessing, as I predicted in the State of the Nation Address only a few months ago, the rebirth of our resilient protea.
The economic impact of the coronavirus pandemic has been severe, not only for South Africa but for the global economy.