Energy Minister Jeff Radebe says the country on Thursday signed a R12bn renewable energy deal with a Saudi Arabian company as part of $10bn investment agreement. Radebe is part of the delegation accompanying President Cyril Ramaphosa on an international visit during which he will visit three countries — Nigeria‚ Saudi Arabia and the United Arab Emirates (UAE) — in four days. Ramaphosa has already spent two days in Nigeria‚ after which he left for Saudi Arabia. He is due to meet Sheikh Mohammed Bin Zayed Al Nahyan‚ crown prince of Abu Dhabi‚ on Friday in the UAE. Ramaphosa’s spokesperson, Khusela Diko, confirmed that‚ during his visit‚ the president had managed to secure a $10bn (about R133bn) investment in Saudi Arabia‚ a commitment that will be a boost to his goal of attracting $100bn. “It’s a fantastic commitment from Saudi Arabia‚ especially coming in the aftermath of the president’s call to have $100bn of investment in the next five years‚” said Radebe. He said the Saudi Arabian...
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