World Bank gives R600bn for development of SA businesses

File: South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. 

File: South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. 

JOHANNESBURG – The World Bank will introduce local businesses to opportunities in other African countries through a fully funded programme.

The project is aimed at encouraging South Africans to explore business opportunities throughout the continent.

The World Bank will make $45-billion (R600-billion) available for the project.

READ: World Bank to investigate loan to SA government

“So governments are going to fund their own developments that come and apply for this money from the world bank," said Bongiwe Kunene of the World Bank.

"But it’s usually the case that government projects are funded by companies. So we are here in SA to explore the opportunities and expose  SA businesses, those which are corporate and those which are commercial, that here’s an opportunity. It’s R45-billion dollars that is available for any company that can apply when the bids are out," she said. 

 

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