Cabinet approves plan for $8.5-billion international renewable funding package

Hanno Labuschagne

Staff member
Sep 2, 2019
Cabinet approves plan for $8.5-billion international renewable funding package

South Africa’s cabinet endorsed an investment plan to help the country transition away from the use of coal, a key step in securing $8.5 billion in climate finance on offer from the world’s richest nations.

The plan envisages the closure and re-purposing of coal-fired power plants owned by Eskom Holdings SOC Ltd., the state power utility, so additional renewable energy can be produced. It also covers expanding the transmission grid and fostering the development of electric-vehicle and green hydrogen industries.

Will money be siphoned from building green energy generations plants or from a building an EV car industry?
So.... when is the commission of inquiry into the mismanagement of these funds going to be announced?
Can we have an itemised statement of where and what the $8.5billion is being spent on instead of the word salad so far?
Aaaaannnd it's gone.

Given the current government's success rate at anything (0%), it seems like a no brainer for the package to carry some strings attached.

Most of the money should go directly to private power providers that the funders select and enforce that government/Eskom cooperate with them. Payments should be made at progress milestones and progress/failures should be public and transparent (especially of the ANC).

We've seen the ANC already cooking pie in the sky/corrupt ideas to use (and steal) most of the money to start EV manufacturing, which will neither help clean up of our dirty energy or alleviate our energy crisis.
We all know the money is gone before we see anything. Thank you #AfricanNationalCriminals

But does this money need to be paid back?
And what are the terms