French multinational Total has begun drilling for South Africa's first deep-water well, south of Mossel Bay, giving fresh impetus to the country's nascent oil and gas industry at a time when the eyes of investors in the sector are shifting further down Africa's coastline.
Teams of representatives from the government, business, labour, civil society and academia have begun working on plans to unlock the economic potential of South Africa's oceans, in the first activation of a new initiative, dubbed Operation Phakisa, that was launched by President Jacob Zuma on the weekend.
South Africa's hospitality sector is poised for further growth in the next five years on the back of rising room rates and growing tourism numbers, with hotel occupancy rates expected to increase to 71% by 2018, according to a report by PricewaterhouseCoopers.
South Africa's Department of Energy is to increase the amount of energy it will be procuring under the third window of its renewable energy programme for independent producers, adding further to the 3 900 MW of wind and solar power that is already set to be added to the country's energy mix.
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