In mid-October the South African Nuclear Energy Corporation (Necsa) presented its financial results for the year ended 31 March 2025 to Parliament’s Portfolio Committee on Electricity and Energy (PCEE) showing positive results for the group, with a net profit after tax of R125.2 million, 93% achievement on its Shareholder Compact targets and a clean audit opinion. The session followed the PCEE’s oversight visit to the Necsa Group at Pelindaba on 8 October 2025 where they were given an overview on company activities and visited the research reactor, medical isotope production facilities and the Necsa Learning Academy.
In tabling the results, Necsa Group CEO Loyiso Tyabashe said: “The positive operational and governance results we present today bear testimony to a hard-working team of employees, the guidance we have received from our oversight bodies and the support of stakeholders. This is a good base on which to launch our growth plans, centred in our mandate in nuclear research and on the back of a vision of developing nuclear technology for global prominence. The strategy we started implementing in 2021 has served us well and we are ready to move into a new strategy that will make Necsa sustainable well into the future and contribute to South Africa’s socio-economic objectives.”
The organisation has achieved notable progress in the past four financial years with the successful implementation of the turnaround strategy that was approved by the Necsa Board in 2021. Core to the strategy were financial sustainability, efficient operations and good governance. The radioisotopes subsidiary NTP posted good results amid volatility in global markets with a financial year-end net profit after tax of R118.3 million and a clean audit. The fluorochemical subsidiary Pelchem ended on a negative net profit after tax at –R28. 82 million, although reducing its losses compared to the previous financial years and achieved an unqualified audit.
Future plans for the Necsa Group include six High Impact Programmes through which it aims to consolidate its role in the nuclear technology and development space, including the broader nuclear energy industry. The programmes include: re-establishing the front-end nuclear fuel cycle, positioning itself in the development of small modular reactors (SMRs), extending the life of SAFARI-1 and building a new multipurpose nuclear research reactor (MPR), increasing its footprint for radioisotope production and services, beneficiating fluorochemicals and stabilising that business as well as capacitating and strengthening skills development for the nuclear industry and other industries. These programmes aim to set Necsa on a growth path and position South Africa centre stage in the global nuclear technology industry.
At the G20 Energy Transitions Working Group Ministers’ Conference, Minister of Electricity and Energy Dr Kgosientsho Ramokgopa provided an update on South Africa’s ambition for nuclear energy and the associated jobs programme. His comments on Necsa’s role are seen as a mark of confidence from government, the sole shareholder, in the work the group is doing.
For more information visit: www.necsa.co.za