President Cyril Ramaphosa said on Friday it will cost South Africa R1.5 trillion to fund the Just Transition plan over the next five years.
Ramaphosa said the plan aims to reduce the negative impact – on workers and communities – of transitioning to a zero-carbon economy while ensuring that benefits are fairly distributed.
If successful, the plan will see the country phase out the use of fossil fuels such as coal and depend more on renewable energy.
Ramaphosa said after five years much more money will be required: “In essence, this investment plan is the first of its kind globally in both scale and ambition.”
Eskom announced on Friday that the World Bank Group has approved a loan request for about R9 million for a project to decommission and repurpose the Komati coal-fired power plant in Mpumalanga to instead use renewable energy and batteries.
-EWN
In other news – Why Thobeka Majozi does not post her man, family & son on social media
South African rapper, Cassper Nyovest‘s baby mama Thobeka Majozi has opened up about why she chooses to keep her life private. Thobeka’s super private nature has awed us for many years, and we are envious of her ability to keep her personal life a secret.
Thobeka who shares a one-year-old son with Cassper reposted a post from a public figure announcing he will keep his personal life off social media due to social media’s toxic nature. Learn More
