PRESIDENT Cyril Ramaphosa has appointed former South African Reserve Bank (SARB) deputy governor Daniel Mminele to head a newly established Presidential Climate Finance Task Team, which will lead South Africa’s efforts to mobilise concessional climate finance for its just energy transition.
The Presidency said the Presidential Climate Finance Task Team would, together with the Asset and Liability Division of the National Treasury, analyse the offer made with a view to advising Cabinet on its composition, affordability and alignment with the country’s regulatory environment.
The appointment follows an $8.5-billion offer made at COP26 by France, Germany, the UK and the US, as well as the European Union, to support South Africa’s just transition to a low-carbon economy, with a specific focus on the electricity, electric vehicle and green hydrogen sectors.
Mminele, who has since January 2022 been an independent nonexecutive director and chair-designate at Alexander Forbes Group Holdings, served as CEO of Absa Group until April 30, 2021.
Prior
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