CEF Group Chairperson, Ms. Ayanda Noah
Acting CEF Group CEO, Dr. Tshepo Mokoka
SANPC CEO, Mr. Godfrey Moagi
Members of the media
Good morning,

I stand before you on behalf of the SANPC Board of Directors to witness a very historic event
that marks a pivotal moment in our journey inspired by determination and hope to change the
South African energy landscape.

It is a journey that has been challenging, intense, and at times uncertain, but one that has
taught us that with sheer determination nothing is insurmountable. The integration of these
assets into the South African Energy Champion went beyond organizational restructuring.

You will recall, this mammoth task of rationalizing these assets began in 2020. When the
SANPC Board was appointed in March 2024, it had to hit the ground running to support the
CEF Group Chairperson, CEF and SANPC Executives, respectively to fulfil the cabinet
decision and government’s efforts to repurpose and rationalize state-owned enterprises to
support growth and development in South Africa.

What we are witnessing here today are government efforts to shape the future of South
Africa’s energy security, industrialization agenda, and economic transformation. We are
laying a foundation for a high-performing, future-fit national energy champion that will be
agile, efficient, and capable of delivering long-term value for all South Africans.

SANPC is not just another company. It is a national asset. It is the embodiment of the
government’s vision for a modernised, integrated, and impactful energy sector player.
South Africa needs a very strong and agile energy company to be able to respond to the
energy challenges faced by the country as well advancing the key components of the National
Development Plan.

The handing over of these assets through lease and assign model and funding would enable
SANPC Board and management to fully effect the operationalisation of a commercially viable
company to be a game-changer as well as supporting the government’s broader strategic
initiatives in fostering regional integration on matters related to energy value chain.

In conclusion, we wish to extend our gratitude afforded to the SANPC Board and
management to create a fit for purpose South African energy champion poised to deliver
shareholder value.

ends