By Johnathan Paoli
In a landmark move aimed at revitalising the country’s energy landscape, President Cyril Ramaphosa has approved the formation of the South African National Petroleum Company (SANPC).
It follows the merger of several subsidiaries of the Central Energy Fund (CEF), namely iGas, PetroSA and the Strategic Fuel Fund (SFF).
SANPC spokesperson Jacky Mashapu said the company was set to play a pivotal role in South Africa’s energy sector, focusing on ensuring energy security, driving technological innovation and developing critical infrastructure.
Mashapu outlined his hope that by fostering strategic partnerships, the company would contribute to social and economic development across the nation.
“This new entity will oversee strategic planning and governance of our petroleum resources, aligning with our broader goals of development and economic growth,” Mashapu said on Wednesday.
The decision to merge the subsidiaries stems from President Cyril Ramaphosa’s commitment, articulated in his February 2020 State of the
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
