African Development Bank has faith in SA and Eskom

The African Development Bank (AfDB) will invest  about $720m in power utility Eskom over the next two years.

The investment will include $620m in infrastructure spending on the Medupi power plant to meet global emission standards and about $100m to support power transmission in Mpumalanga.

This is in addition to the $219m invested by the bank in September to support transmission lines and the upgrading of substation equipment in Mpumalanga and KwaZulu-Natal.

“We have very strong confidence in SA and very strong confidence in Eskom. That doesn’t mean Eskom doesn’t have its challenges but it has never failed to deliver on the investments we’ve made in it,” said AfDB president Akinwumi Adesina in an interview with Business Day ahead of the…

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