SA has won the World Bank’s stamp of approval for its progress on structural economic reforms, with the bank advancing a $750m (about R11.4bn) concessional loan to the government on the strength of “breakthroughs” in its management of the electricity crisis, climate change and digitalisation.

The loan, which has taken more than 18 months to negotiate, will be used for general budget purposes rather than being tied to particular projects. It gives SA recognition for actions taken, rather than setting explicit conditions for it to meet in future...