Fresh political climate has put mothballed deals back on track, says Nedbank’s Mike Brown
London/Johannesburg — Investments in SA’s infrastructure that could not be completed last year because of political uncertainty are among deals that are now on the cusp of getting done, said Nedbank Group CEO Mike Brown. His confidence reflects improving sentiment since Cyril Ramaphosa replaced the embattled Jacob Zuma as the country’s president in February. The government is trying to resolve policy uncertainty in SA’s crucial mining industry while getting renewable energy projects under way again. "The front-end of those transactions would be infrastructure-type transactions, in particular, in SA, the renewable-energy deals," Brown, whose bank is controlled by Old Mutual, said in an interview in London on Thursday. Nedbank planned to "work alongside certain state-owned enterprises, that have previously been starved of funding, to rehabilitate them", he said, emphasising cash-strapped Eskom and loss-making South African Airways (SAA). Brown has been part of the CEO Initiative, whic...
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