The World Bank has approved $350 million in funding to help South Africa launch a credit-guarantee vehicle to unlock up to $10 billion in private investment in infrastructure over the next decade. Hosted by the Development Bank of Southern Africa, the facility will initially focus on expanding the country’s strained electricity transmission network, a key barrier to economic growth and renewable energy development. Finance Minister Enoch Godongwana said the initiative could accelerate major investments in power lines needed to connect wind- and solar-rich regions to the grid. Global energy players, including Engie, Adani Power, and China’s State Grid International Development Ltd., have already signaled interest in investing. The effort aligns with President Cyril Ramaphosa’s broader energy reforms and could eventually extend to sectors like transport and water, while reducing reliance on government-backed guarantees.
Bloomberg
