Musina Makhado Special Economic Zone SOC (MMSEZ) CEO Lehlogonolo Masoga has embarked on boosting the economy of the province by signing the Memorandum of Understanding (Mou) with independent power producer Red Rocket on the sidelines of the Mining Indaba.
The investment deal which will emancipate the Limpopo province is the solar PV facility expected to be around R10 billion.
Masoga, known for always putting his province on the map said: “The investment for the development of the solar PV facility is expected to be around R10 billion and will create the much needed employment opportunities for the local communities including skills development. This initiative bears testimony to MMSEZ commitment to low carbon emissions industrialisation and sustainable development.”
Masoga has vowed to continue to accelerate service delivery to the people and heed to Premier Stan Mathabatha’s call of ensuring that the economy of the province is developed. “We can never claim freedom if we don’t accelerate service delivery to the people. Our people deserve better and we must accelerate services speedily and refrain from entitlement and selfishness. Ours is to serve the people for they deserve better. Our Premier and his administration has made it clear that we must put the people first. We need to invest in advanced technologies because we are living in the 4th Industrial Revolution. The revolution must not be televised but realised. We must make sure that the Limpopo economy is not only advanced but also intact,” said the former provincial chairperson of the ANCYL in Limpopo.
Red Rocket’s investment in the MMSEZ is for the development, construction and operation of a 500MW solar PV in the South Site of the zone.
When pressed for comment Masoga said: “The SOC will provide the power producer with a suitable piece of land of about 1 250 hectares for the location of the plant inside the zone and provide the necessary technical and business development information to Red Rocket. For its part the power producer is expected to inter alia undertake feasibility studies and identify suitable locations for the development of the facility inside the zone and mobilise financial resources for investment in the development and operation of the proposed solar PV facility.”
Earlier, MMSEZ CEO Masoga and Merit Group CEO Hawa Bibi Khan signed the MoU which heightened the third annual Limpopo Investment Conference. “We remain committed to ensure that the economy of the province is enhanced. Attracting foreign investment/investors and facilitating partnerships is potent and imperative to address developmental needs and combat poverty. We want to create more employment opportunities in the province with the establishment of an agro-processing plant to produce tomato paste in the north side of the MMSEZ,” said Masoga.
Merit Group CEO Hawa who is a pioneer and leader in alternative investments said she has full confidence that MMSEZ CEO Masoga is equal to the task to progress the economy of the province. “I’m confident that the MoU will improve the economy of the province. MMSEZ CEO Masoga is the right man for the job because his leadership qualities are proficient and intact. MoU indeed is committed to deliver profound partnership investments in the establishment of an agro-processing plant to produce tomato paste,” said CEO Hawa who is a member of the BRICS Business Forum, BRICS Financial Service Working Group and Council member of the Nelson Mandela University.
MMSEZ and the United Nations Development Programme (UNDP) committed to remedying Africa's triple challenges of poverty, inequality, and unemployment.
The two entities led by MMSEZ CEO Masoga and UNDP resident representative Dr Ayodele Odusola made their intentions clear when they signed a memorandum of understanding (MoU) at Fusion Boutique Hotel in Polokwane. “The MOU between UNDP and MMSEZ represents a significant milestone in creating a framework for collaboration and the development of an annual work plan that will put into effect activities and resources in our endeavours in clean energy, sustainable economic growth through skills development and enterprise development, amongst others,” said Masoga.
He added that the MoU will provide support to MMSEZ, in technical support and expertise; capacity building and skills development; research and innovation; solutions for sustainable development, knowledge advancement, attracting foreign investment/investors and facilitating partnerships to address developmental needs.
Masoga said that the partnership is anchored by the ambition to accelerate progress towards achieving the Sustainable Development Goals (SDGs), a collection of 17 interlinked goals designed to be a blueprint to achieve a better and more sustainable future for all’, the two parties will deliver a portfolio of interventions focusing on advancing the above areas.
According to MMSEZ CEO the key focus areas of this partnership will include the identification and piloting of affordable and clean energy solutions, preventing deforestation and improving knowledge on environmental best practices. “The collaboration will also focus intently on supporting early-stage businesses and skills development within the MMSEZ locality. More strategically, this collaboration will support the development and promotion of MMSEZ initiatives like the upcoming smart city that will leverage on the existing skills, talent, and resources to benefit local people,” said Masoga.
Dr Odusola said: “This collaboration supports the sustainability of the Special Economic Zone for the prosperity of Musina-Makhado local communities. We aim to exercise our convening power to bring in all the key and relevant actors to help advance MMSEZ’s mandate through promoting shared prosperity, environmental sustainability, social advancement, and innovation.”