Yellen: Low carbon economy key to solving SA power crisis
US Treasury chief Janet Yellen says the creation of a low carbon and climate resilient economy will be key to solving South Africa’s electricity crisis.
Yellen arrived in South Africa on Wednesday, on the third stop of a continental tour aimed at forging a new "mutually beneficial" economic strategy toward Africa.
She held talks with Finance Minister Enoch Godongwana in Pretoria on Thursday.
South Africans are experiencing the worst power cuts on record, with Eskom announcing that load shedding would return to stage 5 on Thursday.
Yellen told the media before the meeting with Godongwana that South Africa’s economic outlook and energy sector reforms will form part of the discussions.
“South Africa is the first country with a Just Energy Transition Partnership – to which the United States was proud to commit as a partner.
“This partnership represents South Africa’s bold first step toward expanding electricity access and reliability and creating a low carbon and climate resilient economy, a move that I believe will alleviate the deep fiscal strain the energy sector is putting on South Africa’s economy and support strong economic growth.
“The partnership will also invest in the jobs of growing industries so that the transition is just and does not
leave anyone behind.”
