President Cyril Ramaphosa has canceled a working visit to the World Economic Forum in Davos, due to the ongoing energy crisis.
Spokesperson Vincent Magwenya tweeted the president was meeting with leaders of political parties represented in parliament, the National Energy Crisis Committee (NECCOM) and the Eskom board.
“President Cyril Ramaphosa has engaged the leaders of Eskom and the National Energy Crisis Committee (NECCOM) and the meeting will continue. Another briefing session for key stakeholders will take place during this coming week,” Magwenya said.
Also read: Godongwana reflects on gloomy GDP ahead of WEF meeting
Outlook is bleak for SA
Just days before he is due to present a strong investment case to global leaders at the World Economic Forum (WEF), Finance Minister Enoch Godongwana has painted a bleak picture of South Africa’s growth prospects, saying the economy could grow at a lower rate than forecast. 1.6% in 2022.
According to the Moneyweb report, the National Treasury, in October, predicted that GDP growth will come in at 1.9%, which has been revised down from 2.1% earlier last year.
Godongwana’s comments come despite South Africa’s GDP growing by 1.6% in the third quarter of 2022.
“The forecast is also not impressive,” said Godongwana.
With 11 power plants non-operational and shutdown in phase 6, convincing international investors to inject money into South Africa will be a huge task.
READ ALSO: City Power’s infrastructure is also old, struggling with load shedding
This is also against the backdrop of a difficult global economy.
In addition to energy issues, the delegation must also convince international investors that aspects such as crime, schools and public sector corruption have recovered.
Old videos come back to haunt the president
Ramaphosa’s canceled visit comes amid the recirculation of an old video, in which the president implored his government to ‘fix the country’s energy crisis.’
In the video, which aged like a rotting carcass under the hot African sun, the President is seen telling the media that ‘load shedding is a thing of the past.’
At stage 6, and with local municipalities struggling to maintain power between stages of load shedding, the video angered netizens.
Watch: Old video of Ramaphosa saying shedding burdens ‘is a thing of the past’
Additional reporting by Moneyweb and Devina Haripersad
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