Dames: South African economy poised for growth

In a recent interview with CNBC Africa, Brian Dames, Chief Executive of African Rainbow Energy & Power, discussed the pivotal role of technology in shaping a more competitive economy in South Africa. Dames emphasized the significance of adopting technology across various sectors to drive sustainable growth and create employment opportunities. He highlighted the transformation brought about by technology in the energy industry, particularly in optimizing the performance of renewable energy assets such as solar plants and wind farms. Dames underscored the positive developments in South Africa's energy security portfolio, attributing the progress to a collaborative effort between businesses and the government. He praised the commitment to energy sector reforms and noted the successful completion of major solar plant projects for private sector clients. These projects serve as a testament to the country's evolving regulatory landscape and its ability to attract investments in renewable energy. One of the key themes discussed in the interview was the concept of a just energy transition. Dames acknowledged the challenges posed by transitioning from coal to renewable energy sources, particularly in terms of job displacement. He proposed a proactive approach to re-skilling workers and redirecting efforts towards infrastructure development and emerging industries to mitigate the impact on employment. When asked about his outlook on the global economy and geopolitical risks, Dames expressed optimism regarding South Africa's positioning for growth. He highlighted the country's upcoming leadership role in the G20 and emphasized the importance of fostering partnerships between businesses and the government. Dames emphasized the need for continued investment in key sectors, such as energy, to capitalize on emerging opportunities and drive economic competitiveness. Overall, Dames's insights shed light on the pivotal role of technology in advancing South Africa's economy and ensuring long-term sustainability. By embracing innovation and collaboration, the country is poised to capitalize on its potential and emerge as a key player in the global market.