PRETORIA - South Africa has secured an R8.4-billion loan approximately $474-million from the African Development Bank to advance its Just Energy Transition.
The funding will be used to fast-track the shift to greener energy and build a more inclusive economy.
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According to Treasury, the money will also support infrastructure reforms, help unlock job opportunities, and assist in meeting foreign currency obligations, all under favourable terms.
Commenting on the deal, Everest Wealth CEO Thys van Zyl says if implemented correctly, the loan could lead to positive results.