Panel hears how current power cuts are creating opportunities for some businesses

Local and international companies continue to position themselves for booming business opportunities in the energy sector. This emerged at the CEO’s panel discussion hosted by the Think Tank, European House Ambrosetti, in Johannesburg. But there are concerns that these growing business opportunities in the energy space are not inclusive enough.

South Africa is spending its way out of the current electricity crisis. The investment in alternative energy is also creating massive opportunities for companies.

The country has been grappling with an insufficient energy supply for years now while also battling with ailing infrastructure.

Hennie Heymans, CEO of DHL Express Sub-Saharan says they are calling for the private sector to play a bigger role in power generation to save the country’s economy.

“This gives us an opportunity for fast-tracking the green economy in South Africa so perhaps rather than trying to fix institutions that perhaps is not that fixable, we can actually start investing in alternative energy.”

While the current situation may be seen as both a crisis and an opportunity, solutions are needed on an urgent basis. This is to ensure that the country retains its appeal as an investment destination.

Head of European House Ambrosetti, Pietro Mininii says South Africa remains a highly rated investment hub in Africa because of its sophisticated financial system.

“South Africa is, according to the number of parameters, best investment destination in the African continent specifically represents an important size of the national economy.”

#SAEurope #CEODialogue from @Ambrosetti_ survey Company’s plans for #investment are expected to increase in 2023 for 79% of respondents compared to three years ago pic.twitter.com/2AFqAZN7SK

— The European House – Ambrosetti (@Ambrosetti_) November 10, 2022

The Think Tank, European House Ambrosetti, says the 9th summit aims to build community leaders while growing enterprises.

Johannesburg Mayor Mpho Phalatse says the country’s economic hub is affected by the unstable energy supply.

“We do need to stabilise the power supply, we hate load shedding. We can’t afford it as an economic hub, we need to stabilise the energy supply and get business growing in the economy and people need jobs.”

#SAEurope2022 #CEODialogue Mpho Phalatse Executive Mayor, City of Johannesburg “chasing gold created opportunities but also issues of inequality and infrastructure: we’re firmly working to fix this situation bringing people closer to opportunities” @mphophalatse1 @CityofJoburgZA pic.twitter.com/tCpFhO0Ruj

— The European House – Ambrosetti (@Ambrosetti_) November 10, 2022