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South Africa
Economy - Development | Politics | Society

South Africa, Venezuela ready to sign energy deal

afrol News, 2 September - South Africa and Venezuela are expected to sign an agreement that seeks to provide alternative sources of energy to Africa's economic giant grappling with power crisis.

The agreement will be signed on Tuesday, South African government said in a statement, announcing the first state visit to the country by Venezuelan president Hugo Chavez on Monday.

"Venezuela has one of the largest oil reserves in the world and developing commercial relations in this sector could provide alternative sources of energy to South Africa," Foreign Affairs spokesperson Ronnie Mamoepa said.

President Chavez is billed to discuss political, trade and economic relations with President Thabo Mbeki. The two leaders will also discuss about the strengthening of South-South cooperation between the two continents ahead of the second Africa-South American Community of Nations Summit in Venezuela in November.

South Africa and Venezuela will also discuss mining, armament, agriculture, public works and the strengthening of South-South relations through cooperation in the Non-Aligned Movement and the G77 + China fora.

Earlier this year, crisis in South Africa's coal-driven electricity supply took a great toll on its economy.


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