Race Against Time

Exclusive: Standard Bank plans $500m Eskom transmission system financing

By David Whitehouse

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Posted on May 15, 2023 04:00

Standard Bank is planning to provide nearly R10bn ($520m) in new finance to support Eskom’s transmission system, Kenny Fihla, the bank’s CEO for corporate and investment banking, tells The Africa Report.

The bank needs Eskom to meet conditions to allow the money to be released and agreement from the national treasury to allow the utility to borrow, Fihla says. The mechanisms to ensure that the money is applied to transmission and that Eskom has the needed procurement abilities also need to be met.

Fihla is optimistic that the money can start to be deployed in coming months. “We’re trying to iron it out now.”

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