The Treasury hastened on Thursday to make it clear just how concessional are the terms of the €600m (R10.5bn) of loans France and Germany are to extend to the government on the strength of the policy reforms SA has undertaken to support the just energy transition.

It was a sensible move in light of the noise at home after the launch of the $8.5bn just energy transition package from the international partner group, of which these loans are part. There were tweets about the colonisers imposing debt on us and warnings that it could see SA go the way of Zimbabwe...

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