Ramaphosa: Just energy transition will need R1.7 trillion:
The Just Energy Transition Investment Plan for the five years 2023 to 2027 will need $ 98 billion (R1.7 trillion), if South Africa is to achieve its decarbonisation commitments by 2050, president Cyril Ramaphosa said.
Ramaphosa was speaking at the Climate Resilience Symposium in Pretoria on Monday where he said the plan would drive huge investments in the electricity grid, electric vehicles, economic diversification and skills development.
The Just Energy Transition Implementation Plan, which was approved by the cabinet last year, will guide South Africa’s transition to a low-carbon economy through the scaling up of renewable energy sources and reducing reliance on coal.
The president said climate change is as much an economic issue as it is a scientific, human rights and a developmental issue because it has a direct and material effect across the economy.
“Disruptions caused by climate change increase the costs of doing business, undermine competitiveness and also dampen prospects for increased employment. They result in lower tax revenue and increased expenditure on disaster relief,” Ramaphosa said.
The treasury, along with the Presidential Climate Commission, is to launch the Just Transition Financing Mechanism report at the three-day symposium. It will outline the financing of the energy transition and how the money will be raised.
“Climate finance is also crucial for our transition. We need substantial investments to build sustainable infrastructure, to develop green technologies and support social programmes,” Ramaphosa said.
According to the African Development Bank, just transition finance is different from climate finance. Climate finance relates to funding climate action, steps that can be taken to fight climate change, and is not specifically designed to consider the goal of leaving no one behind and financing the effects of decarbonising activities on vulnerable workers and communities.
A just transition finance approach must seek opportunities to connect green assets — which help to reduce energy, water and natural resource use — with positive social outcomes and the effects on workers and communities.
The president announced that the Just Energy Transition Funding Platform would be launched in the next few months.
According to the implementation plan, the purpose of the platform is to be a matchmaker between suppliers of grant funding and potential beneficiaries; to provide support for project originators to help them prepare plans and apply for grants and to provide the public with transparent data and analysis on the allocation of grant funds to projects.
The president said the funding platform would be an important precursor to a broader Just Transition Financing Mechanism.
“We call on South African business to invest in the projects needed for a successful just transition in this country,” Ramaphosa said.
Wimbledon 2024: A thrilling tournament and a celebration of tennis excellence in SA:
AMEX TENNIS TOWN, Nedbank’s collaboration with American Express, successfully promoted tennis development
The 2024 Wimbledon Championships have come to a close, leaving fans and spectators in awe of the exceptional talent and skill displayed on the court. This year’s tournament was filled with intriguing matchups, surprising upsets, and remarkable performances from the world’s top tennis players. As the dust settles on the All England Lawn Tennis Club’s iconic grass courts, attention turns to the impact of the tournament on the global tennis community, particularly in South Africa.
In a strategic partnership between Nedbank and American Express, AMEX TENNIS TOWN was launched at Monte Casino in Johannesburg, bringing the excitement of Wimbledon to the heart of South Africa. This innovative initiative aimed to promote tennis development, foster community engagement, and provide a unique experience for fans and players alike.
Buli Ndlovu, Executive Head of Retail and Business Banking Marketing at Nedbank, emphasised the significance of this partnership: “Our collaboration with Wimbledon and American Express is a testament to our commitment to growing tennis in South Africa. We are dedicated to supporting the development of this magnificent sport, and AMEX TENNIS TOWN is an excellent example of our efforts.”
AMEX TENNIS TOWN offered a range of activities, including tennis clinics, exhibition matches and interactive fan experiences. The event drew a significant crowd, with attendees praising the initiative for its innovative approach to promoting tennis in South Africa. The tennis clinics, conducted by certified coaches, were particularly popular among young players, providing them with valuable training and guidance.
Ndlovu highlighted the benefits of AMEX TENNIS TOWN for Tennis South Africa: “This event has not only brought the Wimbledon experience to our shores but has also contributed significantly to the growth of tennis in our country. We are proud to be part of this journey, and we look forward to continuing our support for this magnificent sport.”
The 2024 Wimbledon Championships will be remembered for its thrilling matches, unexpected victories, and outstanding performances. The tournament’s winners demonstrated exceptional skill, strategy and determination, inspiring fans worldwide. As the tennis world looks to the future, initiatives like AMEX TENNIS TOWN serve as a reminder of the power of partnerships and community engagement in promoting this beloved sport.
The 2024 Wimbledon Championships and AMEX TENNIS TOWN have left an indelible mark on the tennis community, both globally and in South Africa. As we celebrate the achievements of the world’s top tennis players, we also acknowledge the efforts of organisations like Nedbank and American Express, who work tirelessly to promote tennis development and community engagement. The future of tennis looks bright, and initiatives like AMEX TENNIS TOWN will undoubtedly play a significant role in shaping its success.
M&G 200 Young South African Didi Lekganyane stabbed to death:
Police have confirmed the murder last week of academic and scientist Dorcas ‘Didi’ Lekganyane, allegedly by her partner at their residence in Johannesburg’s suburb of Bramley.
“Authorities allegedly responded to a domestic violence incident and discovered Didi with several stab wounds,” police spokesperson Colonel Noxolo Kweza said in a statement.
Lekganyane’s partner was found at the scene, “supposedly attempting suicide after the tragic incident”. He was admitted to hospital and placed under police supervision.
“Once he is fit to face court proceedings, he will face charges of murder as confirmed by law enforcement,” said Kweza.
Lekganyane, who was 32, was listed in June among the Mail & Guardian’s 200 Young South Africans 2024 in the Climate Change and Environment category.
She was a researcher focusing on traditional medicine and the co-founder of Sweet Biotics, a herbalist store that distributes tonics to mainstream markets and outlets.
With a master’s degree in environmental science that focused on botany and plant biotechnology, Lekganyane said she wanted to break the stigma attached to the use of traditional medicine.
She had previously been recognised as one of the 50 Most Inspiring Women in South Africa and received several other accolades, including the Department of Science and Technology Fellowship Master’s Degree Award for her research on traditional medicinal plants in South Africa.
“She touched countless lives through her work and tireless efforts to bridge the gap between traditional practices and modern science — the world is a poorer place today without her,” said the family’s spokesperson, NJ Lekganyane.
South Africa has long grappled with gender-based violence, with thousands of women killed every year, many of them by their partners.
In a media briefing on Monday on how he intends to tackle rampant crime in the country, new Police Minister Senzo Mchunu said the killing of women and children “continues to be cause for serious concern and warrants intensive action from law enforcement”.
Submit and get free exposure here: Showcase Your Business | Advertise Your Special Offers.
