CHRIS BARRON: ‘Forget localisation, just add megawatts,’ says RMB's James Formby
Outgoing CEO says lack of electricity is greatest threat to SA's economic growth and blames localisation drive for delay to renewable energy projects
James Formby, the outgoing CEO of Rand Merchant Bank (RMB), the biggest investment bank in the country, says that instead of obsessing about localisation the government should be obsessing about adding megawatts to the grid.
“The lack of electricity is the greatest threat to SA’s economic growth. We all know that economic growth creates jobs, so obsessing about adding megawatts to the grid should be a collective priority across business, government and labour.”..