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South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan

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African Development Bank

In addition to the corporate loan, the African Development Bank is contemplating two targeted grants, including $750,000 in technical support from the Sustainable Energy Fund for Africa

ABIDJAN, Ivory Coast, July 18, 2024/APO Group/ — 

The African Development Bank Group (www.AfDB.org) has approved a ZAR 18.85 billion ($1 billion) corporate loan to Transnet, South Africa’s major freight transport and logistics company, for its recovery and growth plans.

The 25-year loan approved by the Bank Group’s Board of Directors on Friday, 12 July 2024, is fully guaranteed by the government of South Africa. It will facilitate the first phase of the company’s ZAR 152.8 billion ($8.1 billion) five-year capital investment plan to improve its existing capacity ahead of expansion for the priority segments throughout the transport value chain.

Transnet has faced operational challenges mainly in the critical rail and port businesses resulting from underinvestment in infrastructure and equipment, theft and vandalism, and external shocks such as floods and the effects of the COVID19 pandemic.

The company is committed to addressing past challenges, fostering integrity, and enhancing efficiency within the organization. It has made progress in some key areas including reforms in governance procurement and financial management.

Our partnership will enable Transnet to execute a comprehensive Recovery Plan (RP), addressing operational inefficiencies, particularly in rail and port sectors

The recovery plan, launched in October 2023, seeks to rehabilitate the infrastructure and accelerate the relaunch of operations over 18 months, focusing on restoring operational performance and freight volumes to meet customer demands.

Following the approval, African Development Bank’s Vice President for Private Sector, Infrastructure and Industrialisation Solomon Quaynor, emphasized the significance of this support: “Transnet, the custodian of South Africa’s critical transport and logistics infrastructure, plays an indispensable role in the economy of the country, ensuring a competitive freight system and serving as a gateway to the SADC region.”

He added: “Our partnership will enable Transnet to execute a comprehensive Recovery Plan (RP), addressing operational inefficiencies, particularly in rail and port sectors. It is aligned with South Africa’s strategic ‘Roadmap for Freight Logistics System,’ and overseen by the National Logistics Crisis Committee, chaired at the Presidency level. This initiative signifies our commitment to enhancing national logistics capabilities and driving sustainable economic growth.”

Transnet has been a client of the African Development Bank since 2010. The company employs more than 50,000 people and plays a critical role in integrating and connecting South Africa with the global economy. The company’s freight system’s activities contribute significantly to South Africa’s economy. Its operations serve as key gateways for trade within South Africa and with landlocked countries in the region, such as Botswana, Zambia, Zimbabwe, and the Democratic Republic of Congo through the Port of Durban.

Reacting to the approval, Michelle Phillips, Group Chief Executive of Transnet said: “We appreciate the support demonstrated by the African Development Bank, the loan extended by the bank will make a significant contribution to Transnet’s capital investment plan to stabilise and improve the rail network and to contribute to the broader South African economy. The accompanying grant funding to the loan will also greatly assist Transnet with to its energy efficiency efforts and with Infrastructure Project Preparation initiatives.”

The Board commended the Government of South Africa for its vision and commitment to reforms in Transnet as well as the country’s entire transport and logistics sectors. It also applauded Transnet for progress made in rolling out its compliance and governance improvement programme as well as its decarbonization and energy efficiency plans in line with its Net Zero Emission Strategy and Green Freight Strategy.

In addition to the corporate loan, the African Development Bank is contemplating two targeted grants, including $750,000 in technical support from the Sustainable Energy Fund for Africa (SEFA) – a multi-donor fund administered by the Bank – to improve energy efficiency and associated measures, in line with Transnet’s net zero plan. The second grant funding comprises $1 million from the Infrastructure Project Preparation Facility of the New Partnership for Africa’s Development (IPPF-NEPAD), for technical assistance to help accelerate railway reforms and address structural and regulatory inefficiencies.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Business

Nature, Carbon and Climate Are Becoming Core Investment Themes – with Africa at the Centre

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finance

Private finance for nature has increased more than tenfold in recent years, rising from USD 9.4 billion to over USD 100 billion, and could reach up to USD 1.45 trillion by 2030 if current the momentum continues

CAPE TOWN, South Africa, February 9, 2026/APO Group/ –Climate change, biodiversity loss and ecosystem degradation are no longer just environmental challenges; they are now central to how investors assess resilience and long-term returns.

Nature underpins large parts of the global economy, from water security and food systems to infrastructure and climate resilience. Yet according to the United Nations Environment Programme (UNEP) the global biodiversity finance gap is estimated to reach USD 942 billion per year by 2030. Current finance flows into nature total around USD 200 billion annually, with just USD 35 billion coming from private capital.

At the same time, capital markets are shifting. Private finance for nature has increased more than tenfold in recent years, rising from USD 9.4 billion to over USD 100 billion, and could reach up to USD 1.45 trillion by 2030 if current the momentum continues.

Alongside this, carbon markets, nature-based solutions and resilience infrastructure are increasingly being treated as linked investment themes, with new asset classes emerging across carbon, biodiversity and climate adaptation. This convergence is reshaping how investors assess risk, returns and long-term resilience, particularly in emerging markets.

Investing in Africa’s adaptation and mitigation projects is not an act of generosity; it is an investment in our common future

The economic stakes are already clear. In South Africa alone, healthy ecosystems contribute over R275 billion (around USD 14 billion) per year, equivalent to at least 7% of GDP.

Across Africa, natural capital accounts for an estimated 30%-50% of total wealth in many countries, underlining how closely economic growth, stability and development prospects are tied to climate and nature outcomes. In many African economies, natural capital makes up a far larger share of national wealth than factories or infrastructure, meaning that damage to nature can quickly translate into pressure on public finances and long- term economic stability.

Recent flooding in parts of Kruger National Park and ongoing water stress in the Western Cape have reinforced how climate and ecosystem risks translate directly into economic losses, infrastructure damage and pressure on public finances. These are no longer peripheral sustainability issues; they are core financial and investment risks.

Against this backdrop, Africa’s Green Economy Summit (AGES) 2026 will open with the Climate, Carbon & Nature Financing Academy on Monday, 24 February 2026 in Cape Town, ahead of the main Summit from 25 – 27 February 2026. The Academy will focus on how climate, carbon and nature can be translated into bankable projects and investable asset classes, including through instruments such as carbon markets, green, blue and wildlife bonds, debt-for-nature swaps and performance-linked finance.

“The escalating impact of climate change in Africa calls for the global community and private sector to recognise that a climate-resilient Africa is essential for global stability, prosperity, and shared security. Investing in Africa’s adaptation and mitigation projects is not an act of generosity; it is an investment in our common future,” said Harsen Nyambe, Director, Sustainable Environment and Blue Economy at the African Union Commission.

By foregrounding climate, carbon and nature finance at the start of 2026, AGES reflects a broader market reality: these are no longer side conversations in sustainable finance, they are becoming central pillars of Africa’s investment future.

Distributed by APO Group on behalf of VUKA Group.

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Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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