The World Economic Forum predicts the continent of Africa as a shining future economic development destination amongst various countries of the world. Growth opportunities for businesses in Africa are immense. Energy provision and energy security is an important catalyst for economic growth and increased social equity in Africa. It is therefore important for African countries to prioritize investment in energy infrastructure and provision. Southern Africa has abundant and cheap sources of coal; making it the primary energy source for the South African national energy company, Eskom's total power generation.
Recent discoveries of major gas and oil deposits in southern Africa could dramatically improve the prospects for southern African countries - reducing imports, driving economic growth, and lowering CO2 levels in power generation. Gas is a low-cost, flexible power source. It can provide generation primarily above the base load in peak-demand periods. Replacing expensive diesel generation during these hours would also contribute to reducing the cost of electricity generation for Eskom and mitigate price rises for consumers.
South Africa is currently rated as the 12th most attractive investment destination for renewable energy. It is a 'frontier province' as far as oil and gas exploration is concerned, affording it a unique opportunity to make great strides in that regard.
Kutlwelo Resources is made up of young, skilled and ambitious entrepreneurial Africans who are capable of making a great contribution towards achieving energy security in Africa.
The Kutlwelo Group of Companies
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