Standard Bank has allocated R10bn to fund energy projects in SA as the continent’s largest lender by assets grows more confident in its home market and invests in riskier ventures. "We are exceedingly optimistic about the future of this country, more so now than in December," the bank’s CEO for SA, Lungisa Fuzile, said at a panel discussion in Johannesburg late on Tuesday. He was referring to December 2017, when Cyril Ramaphosa was elected head of the ANC, which enabled him to replace Jacob Zuma as president of the country in February. He has since begun a campaign to lure $100bn in investment over the next five years as he seeks to boost a flagging economy. Ramaphosa’s government has moved to revive a renewable energy industry that had become caught up in lengthy project delays under Zuma’s administration. Bidders Energy Minister Jeff Radebe signed agreements with 27 independent power producers in April 2018 and said in June that bidders would be invited later in 2018 to apply for ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now