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Load shedding threatens govt's R100bn investment drive - Davies

Davies was speaking at the Cape Town Press Club on Tuesday where he reflected on the challenges of the last 10 years.

Department of Trade and Industry Minister Rob Davies. Picture: GCIS

CAPE TOWN - Trade and Industry Minister Rob Davies says Eskom's load shedding is the biggest risk to government's drive to attract R100 billion investments.

South Africans experienced stage 4 load shedding for about a week.

Davies was speaking at the Cape Town Press Club on Tuesday, where he reflected on the challenges of the last 10 years.

Davies said investors are aware of South Africa's energy challenges. However, he believes investors are in for the long run.

“Many of those investors were taking a long-term view on South Africa but you are making a bet if you are investing and those things will be sorted out and improved in due time.”

Asked about the possibility of sourcing energy from independent power producers, Davies said it won't solve the energy crisis.

“The people in the townships and rural areas will be dependent on Eskom so, we got to get Eskom right.”

Davies said despite difficult economic conditions, the country has shown strong resilience.

(Edited by Mihlali Ntsabo)