Serious Social Investing Conference 2024: bold steps towards energy security
Eskom's journey towards energy stability took centre stage at the 2024 Serious Social Investing Conference, with the Eskom chairperson stating that they are on track to eliminate load shedding by March 2025.
The annual Serious Social Investing (SSI) conference, held on October 17 at the Gordon Institute of Business Science (GIBS) Business School, brought together leaders from the corporate social impact sector to discuss the future of social investment and its role in shaping society. Hosted by Tshikululu Social Investments and its partners, this event has grown into one of the most significant gatherings on the African continent. It provides a platform for industry experts to network, exchange knowledge, and explore innovative strategies for driving meaningful change.
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Dr Mteto Nyati, Eskom chairperson, delivered the keynote address, revealing significant updates on South Africa’s energy crisis. He declared that South Africa has experienced 204 days without load shedding, with Eskom on track to eliminate load shedding risk by March 2025. Nyati also predicted that 2024 will see Eskom break even or achieve profitability. The turnaround was attributed to an improvement in Eskom’s energy availability factor (EAF), which rose from 58.1% in April to 63.1% by July. By refining internal processes and leveraging the expertise of original equipment manufacturers, Eskom reduced diesel expenditure by over R12b. Nyati believes load shedding will be eliminated once Eskom reaches a 70% EAF.
The conference sparked vital discussions on empowering human capacity, creating sustainable economic pathways, and navigating South Africa’s just energy transition. Speakers and attendees offered innovative strategies to fuel positive social change, exploring the synergy between social impact and sustainable development to shape a brighter future for all.
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The conference didn’t stop at Eskom’s progress. Key topics of discussion included the role of corporations in shaping society, the real beneficiaries of the just energy transition, and creating sustainable economic pathways. These conversations were enriched by insights from prominent speakers such as former statistician-general Dr Pali Lehohla, celebrated business leader Dr Judy Dlamini, and Alistair Mokoena, CEO of Google South Africa.
This year’s SSI conference continues to challenge and inspire corporations to play a more active role in driving social change. Paving the way for a future where sustainable development and energy security go hand in hand.
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