South Africa

EIB Global, the development arm of the European Investment Bank (EIB), has signed a €350 million loan agreement with Transnet, South Africa’s state-owned transport and logistics company. The signing ceremony took place in Johannesburg and was attended by Cyril Ramaphosa, president of South Africa, Ursula von der Leyen, president of the European Commission, and Andrew McDowell representing the European Investment Bank.

The European Investment Bank (EIB Global) today announced a financing package of US$ 100 million to AXIAN Telecom to support the expansion of its mobile broadband network infrastructure across Madagascar and Tanzania. The project will expand 4G mobile broadband network infrastructure across the two countries as well as continuing the introduction of 5G coverage.

Renewable energy projects developed by independent power producers in South Africa received a € 400 million (ZAR 7.9 billion) boost with today’s announcement of a joint initiative between the European Investment Bank (EIB) and FirstRand Bank Ltd. A € 200 million (ZAR 3.9 billion) loan from the EIB will be matched by FirstRand Bank to invest in renewable energy, in particular solar photovoltaic and wind energy, as well as energy-efficiency projects. The investments will aim to increase the supply of reliable, affordable, clean and sustainable energy in the country, reducing dependence on fossil fuels.