JOHANNESBURG - The City of Johannesburg has secured a R3.8-billion loan from German development bank KfW.
The loan is intended to help overhaul and modernise the city’s struggling electricity network.
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The City said funding will go towards infrastructure upgrades, including substations, smart meters and renewable energy projects.
City officials say the loan comes with a fixed interest rate and no foreign currency risk.
It forms part of the metro’s financial recovery and energy transition strategy.