Jannie Durand, Remgro CEO, said that SA’s electricity powerhouse, Eskom, will be a thing of the past in 5 years’ time with the private sector taking over both electricity generation and distribution.
Speaking on 702 following the release of Remgro’s results for the 6 months ending 31 December 2022.
“I am firmly of the opinion that in five years’ time, Eskom will become irrelevant”.
The investment conglomerate is not sitting back and waiting for privatisation to occur, it has launched Energy Exchange which is set to start selling affordable solar and wind power to South African businesses in mid-2023.
This came after it realised that energy security in the country posed a threat to its subsidiaries.
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