In South Africa, power company Eskom just signed an agreement with Agence Française de Développement (AFD) for the provision of a R3.2 billion loan (€214 million).

The loan will be injected in Eskom’s distribution projects in the Eastern Cape, Limpopo and KwaZulu-Natal. These include grid strengthening, refurbishment, improving reliability, split metering and upstream grid reinforcement to cater for renewable energy.

Commenting on the signing, Eskom’s CEO Brian Molefe said: “Our firm enjoys a fruitful relationship with AFD and the agreements further cement this relationship”. According to South African authorities, the financing will help government achieve its goal to fully electrify the country by 2025. Currently, 3 million South African still lack access to electricity.

Aaron Akinocho