President Ramaphosa wants to raise 100 billion dollars in the next 5 years
https://www.youtube.com/watch?v=eL5Gwakfers&app=desktop
BRICS Bank to Boost South African Loans by as Much as $600 Million
The New Development Bank plans to lend as much as $600 million more in South Africa this year in an effort to spread funding more evenly across its five member states. The lender, backed by Brazil, Russia, India, China and South Africa, started operations in 2015 to support infrastructure projects and sustainable development initiatives in emerging economies.…
African Development Bank approves USD 250-million Risk Participation Agreement with ABSA
The Board of Directors of the African Development Bank on Wednesday, 18 July 2018, approved an unfunded US$ 250-million Risk Participation Agreement with ABSA Bank Limited. This Risk Participation Agreement housed within African Development Bank’s Trade Finance operations will enhance African issuing banks’ ability to leverage trade financing through a multi-sectoral approach. When fully utilized,…
World Bank approves US $794.5m for the construction of Nachtigal dam, Cameroon
Cameroon is set to receive US $794.5m for the construction of 420 MW Nachtigal hydroelectric project after the World Bank approved of the investment package. According to World Bank country director for Cameroon, Elisabeth Huybens the investment in the clean energy sector is essential to reduce electricity cost and ensure the competitiveness of Cameroon’s economy. “The…
China Battles France for Business in Former African Colonies
When Ivory Coast put out a tender to build a bridge over the lagoon in its commercial hub of Abidjan, 10 out of the 18 companies that expressed interest were either Chinese firms or in partnership with them. China State Construction Engineering Corp. won the contract in May. The 109 billion CFA francs ($191 million)…
Nigerian Sovereign Wealth Fund reduces exposure to the Middle East and the US
The Nigerian Sovereign Investment Authority (NSIA) recently released its 2017 financial report. One of the takeaways from that report is that net profit took a turn for the worse falling from N149 billion to N27 billion representing a decrease of 82%. The media is already awash with that news and we will, therefore, not bother…
World Bank exceeds climate finance target with record year
On Thursday, the World Bank revealed that in fiscal year 2018, 32.1% of its financing had climate co-benefits – already exceeding the target set in 2015 that 28% of its lending volume would be climate-related by 2020. “We have not just exceeded our climate targets on paper, we have transformed the way we work with…
S.Africa: Central Energy Fund signs 100MW CSP deal
The Central Energy Fund of South Africa and ACWA Power have entered into a cooperation agreement to co-invest in renewable energy projects the first of which will be the 100MW Redstone concentrated solar thermal power (CSP) plant in the country’s Northern Cape Province. The agreement was signed on the occasion of South African President, Cyril…
Zimbabwe prepaid water sytem to be ready by September
The Zimbabwe National Water Authority (Zinwa) is set to introduce prepaid water system for all local authorities by September this year and institute stop order payment arrangements for other bulk water consumers in order to rein in problem debtors. According to Acting chief executive Engineer Taurai Maurukira, during Zinwa’s annual general meeting (AGM) in Harare,…
South Africa to construct its US $1m first solar-powered desal plant
Plans are underway to build South Africa’s first solar-powered desalination plant at Witsand in the Hessaqua municipality.This will be an addition to at least four desalination plants operating in the Western Cape. French ecology minister Nicolas Hulot who attended the launch of the project together with Western Cape finance MEC Ivan Meyer said the french…