New Development Bank loan to Eskom for battery storage follows technical assistance for small hydro project in India
The first president of the New Development Bank K. V. Kamath [NDB]
At its board meeting on December 16, 2019, the board approved three projects aggregating to approximately $1 billion bringing the BRICS New Development Bank (NDB)’s portfolio to 52 projects with loans aggregating to $14.7 billion.
Eskom instituted an unprecedented Stage 6 loadshedding schedule on Monday
Eskom’s Arnot power station [Courtesy: Eskom]
State-owned electricity utility Eskom had to institute a Stage 6 loadshedding schedule, which meant that they were short 6 000 Megwatts (MW) on December 9 due to a variety of breakdowns at its plants.
Technical assistance for projects in India and Russia
BRICS leaders attend the NDB Summit in Brasilia on November 14, 2019 [NDB]
The BRICS New Development Bank (NDB) has moved into technical assistance similar to the mandate of other multilateral development finance institutions such as the International Monetary Fund and the World Bank.
Bank can issue RUB 100 billion bonds with a maximum tenor of 20 years
The first president of the New Development Bank K. V. Kamath speaks at the 2nd annual meet of the new lender in New Delhi on April 1 2017 [Image: BRICS Business Council]
After successfully registering bond programmes in China and South Africa earlier in 2019, the BRICS New Development Bank (NDB) has now registered a RUB 100 billion program on the Moscow Stock Exchange.
Fifty-two boardroom pitches from 25 countries secured investments worth $40.1 billion.
The AIF focused on projects and advancing deals spanning several sectors, including Energy, Infrastructure, Transport and Utilities, Industry, agriculture, ICT and Telecoms
“Without the free movement of people, there can be no free movement of goods” – Jean-Guy Afrika
South African recently hosted tourism exhibitors from 23 African countries [PREUSS]
Africa’s GDP can quadruple by 2040, but with only a 50% rise in energy demand
A new dawn in energy resilience may come to Africa if there is a sizable move to renewable energy
Africa has the potential to expand the continental economy fourfold, but by implementing the right policies, energy demand need only expand by 50% according to a new report by the International Energy Agency (IEA), which had its first public presentation of the report at the second African Investment Forum in Johannesburg, South Africa.
Will prevent marine poaching and mitigate fire risk
AIS Data spread for SDR payload. Photo Credit: Amaya Space
A constellation of South African nanosatellites will be put in orbit next year to monitor shipping to prevent the poaching of marine resources such as abalone and sharks, while they will also track fires so ground-based personnel can move livestock out of harm’s way and prevent the spread of the fire.
“The South African government sees the success of the transaction, believed to be the largest ever out of Sub-Saharan Africa, as an expression of investor confidence in the country’s sound macro-economic policy framework and prudent fiscal management.”
The National Treasury building in Pretoria [PREUSS]
The South African government placed $5 billion worth of bonds in the international capital market on September 23 2019 in the largest bond issuance by a Sub-Saharan African country.
Loans are for projects in India, Russia and South Africa
The first president of the New Development Bank K. V. Kamath speaks at the 2nd annual meet of the new lender in New Delhi on April 1 2017 [Image: BRICS Business Council]
The BRICS New Development Bank (NDB) Board of Directors (BoD) approved four infrastructure and sustainable development projects with loans aggregating to some $1.4 billion, bringing the Bank’s portfolio to 42 projects with loans aggregating to $11.6 billion.
