China to invest nearly $15bn in SA
Loss-making Eskom has received a $2.5bn, or R33bn, loan from the China Development Bank
China has pledged to invest $14.7bn in SA and grant loans to Eskom as the two nations seek to strengthen economic ties and increase trade. The investment pledge and loans were announced after a meeting between President Cyril Ramaphosa and his Chinese counterpart, President Xi Jinping, in Pretoria on Tuesday. Xi is on an official state visit to SA ahead of the 10th summit of the Brazil, Russia, India, China and SA (Brics) nations that begins in Johannesburg on Wednesday. China is SA’s biggest trading partner. “China is ready to invest and work with SA in various sectors, such as infrastructure development, ocean economy, green economy, science and technology, agriculture, environment and finance,” Ramaphosa told reporters. “We also recognised that although trade figures have grown steadily over the past few years, bilateral trade has not reached its potential. We have thus explored avenues for increasing trade, identifying sectors for future investment and promoting tourism.” Inves...
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