DBSA keen on ensuring energy sufficiency in S.Africa - CNBC Africa

DBSA keen on ensuring energy sufficiency in S.Africa

Southern Africa

by Trust Matsilele 0

Mo Shaik's DBSA keen on ensuring South Africa reaches energy sufficiency. PHOTO: DBSA

The Development Bank of Southern Africa (DBSA) says it is willing to work with companies with targets of ensuring energy sufficiency in the country.

“We are an infrastructure financing institution hence, we are very keen to ensure that South Africa reaches energy sufficiency and we are more than willing to ensure success of energy projects,” noted DBSA’s International financing division’s head, Mo Shaik to CNBC Africa.

Shaik added that, there are many infrastructural projects because of the deficit in the continent adding that there was a need to bring those projects into the state of bankability and financing.

(WATCH VIDEO: DBSA & EU to launch fund for infrastructure development)

“We are looking at the energy and roads deficits in the continent and we are finding a growing formulisation of the entrepreneurial economies on the continent.”

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The DBSA is also working towards ensuring the success of power infrastructure in the Grand Inga Dam power project.

“The Grand Inga Dam project is expected to generate capacity of 42,000 megawatts. [The current challenge is that the project is located in the Democratic Republic of Congo], a country that has certain challenges.”

Shaik noted that leading financing organisations were also keen to making sure the project was a success.

Shaik added that enterprise development could be the answer to South Africa and Africa’s economic growth prospects.

He urged African economies to see enterprise development as an investment into the future as it (enterprise development) acts as a catalyst in job creation, entrepreneurship and economic growth.

Enterprise development is a strategy for promoting economic growth and reducing poverty in developing countries and this is done through building private enterprises.

(WATCH VIDEO: DBSA join forces to increase rural communities' access to electricity)

DBSA is a state owned entity tasked with the purpose of accelerating sustainable socio-economic development and improve the quality of life of the people of the Southern African Development Community. 

BY TRUST MATSILELE

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