Robert Basil Hersov examines whether South Africa can manage the European Commission's €11.5 billion green investment package. He argues the real problem isn't the money but South Africa's track record: R20 billion stolen from Eskom, a R745 million Kusile payment fraud, and an unlawful R1.064 billion Transnet locomotive deal. Without strict oversight, he warns, the funds risk vanishing into inflated invoices and seminars.
Chapters
Picture this: €11.5 billion—that's about R230 billion—landing in South Africa for green growth and new industry. The European Commission says this is a partnership for an inclusive and sustainable future. I always doubt those words. I say it is a test of our integrity. Because we know our history with big money and big promises. The package is real, nearly €12 billion in total. That's real money. €8.7 billion for renewables, green hydrogen, and the energy transition, and €1.2 billion for a just and inclusive transition. There's also money for logistics, digital connectivity, and vaccine production. And that's the headline. Let's get into the reality. We've heard promises before. The problem is not funding. The problem is delivery and governance. Let's look at Eskom for a start. Business Day reported that Eskom has been fleeced of more than R20 billion in 3 years through criminal activity linked to its systems. At Kusile Power Station, There's a case before the courts centred on a payment of R745 million. And these aren't rumours. These are formal allegations and live criminal matters. The lights tell the rest of the story. Let's look at Transnet. The 1,064 locomotive deal was found in court to have been unlawfully awarded under previous leadership. Imagine that. The contract value ran into tens of billions. We are still fighting over spare parts and operational failures while freight volumes fall and ports stall. And that's not a logistics strategy. Not at all. That is economic self-harm. Now, the so-called just transition. €1.2 billion for reskilling and inclusion. Sounds noble. I mean, it can change lives if it reaches people and real firms. But without hard oversight, it becomes conferences, consultancies, and inflated invoices. Cyril loves that sort of stuff. We do not need more seminars. We need skills that get people hired and plants that get built on time, on budget. And Europe, wanky Europe, talks about transparency and results. Pretoria talks about control. If the money flows through weak institutions without strict checks and transparency, it'll vanish faster than a ministerial promise into ANC pockets. Audit reports will be written, tabled, and ignored. And that mustn't happen again. Take KoeiGa and the green ammonia plant. It could be a symbol of South African excellence. It could anchor new export industries. And cleaner shipping fuels. But if procurement fails and timelines slip, it becomes another glossy brochure with an empty site behind the fence. Typical ANC failure. And we've seen way too many of those. In KwaZulu-Natal alone, the Transport Department has quantified billions lost to stalled and abandoned road projects. And that's what failure looks like. In rands and cents. It's brutal. And this European package can be a turning point. Can be. It can prove that South Africa can deliver clean power, efficient logistics, and real jobs. But money without integrity is throwing petrol on a fire. Money without competence is a promise that just burns out. So here's the call. Ring-fence those funds with hard conditions and independent audits. Publish the project lists and the milestones. And name the contractors. Show the unit costs. Protect whistleblowers. Fire the liars. Prosecute the thieves. This should and could be our Green Dawn, not another billion-rand blind spot. South Africa doesn't need more speeches, doesn't need more of Cyril's pathetic conferences and dialogues. It needs real leadership, real accountability, transparency and execution. And Europe cannot give us that. Only we can.
