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South Africa’s energy transition needs full financial support, says African Development Bank Group President

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4 years ago

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The African Development Bank estimates that South Africa would need more than $30 billion for transition to renewable energy

JOHANNESBURG, South Africa, March 28, 2022/ — African Development Bank Group (www.AfDB.org) President Dr Akinwumi Adesina has assured South Africa of the Bank’s strong support as the country transitions from fossil fuel to renewable energy.

Adesina told Minister for Mineral Resources and Energy, Gwede Mantashe, that the Bank was in the process of setting up an African Energy Transition Facility to help South Africa secure adequate financing for its energy transition.

He said: “South Africa cannot and should not embark on the journey of energy transition without the necessary financial support.” He said through the African Energy Transition Facility, “South Africa can leverage on the $8.5 billion in grants from the G7 countries to generate all the money it needs for its just energy transition without getting into debt.”

The African Development Bank estimates that South Africa would need more than $30 billion for transition to renewable energy.

The Bank is financing several renewable energy projects in South Africa, including the 100 megawatt Sere wind power plant, the 100 megawatt Xina solar power concentrated power plant, and the award-winning 100 megawatt Red Stone solar project. The Bank is also preparing a $400 million package to support the country’s electricity utility company, Eskom, as it transitions to renewable energy.

Adesina and Minister Mantashe met in South Africa’s capital Pretoria, where they discussed a range of opportunities for the country, which relies on coal for 75% of its energy needs.

According to Mantashe, the government is committed to achieving a 15% reduction in coal power production and an 18% increase in renewable energy by 2030.

He said: “We want to move from high carbon to low carbon emission. The Just Energy Transition plan should be about people’s lives and livelihoods, particularly in coal mining areas. We must develop a concrete alternative economic program for communities in those areas.”

The minister said the government was planning to generate additional 1,500 megawatts of electricity from coal. “We want to be actively involved in the experiment for cleaner coal production technology, including carbon capture and storage…If the experiment works, we’ll expand it and that will reprieve coal as a commodity.”

The minister said gas and nuclear were part of South Africa’s energy mix. He described gas as a game changer for development and cited Mozambique, whose economic prospects have changed following gas discovery.

According to Adesina, solar power should be a key part of South Africa’s energy mix. “Be bold about solar power,” he said. “Africa today has no choice but to transition out of coal. But God is good to us. We have 11 terawatts of solar. That is Africa’s future. South Africa can help make that future happen. South Africa can become and should position itself to be the lead manufacturer of polysilicon.”

Polysilicon is used to manufacture solar panels and other products, which are currently imported mainly from China.

Mantashe told the African Development Bank Group president and his delegation that South Africa had discovered rare earth minerals, essential in manufacturing solar power components. “The minerals of the future that will contribute to a green economy are here,” he said.

The Bank Group chief and the minister also discussed the impact on Africa of Russia’s war in Ukraine, which has already led to an increase in the prices of food, fertilizer, oil and gas.

Adesina said the African Development Bank was developing a plan to raise $1 billion to fund emergency food production and avert a looming food crisis across Africa.

Minister Mantashe said the South African government was considering using 10 million barrels of its crude oil reserves to control the rising prices of petroleum by suspending all taxes and levies for two months.

Please find more images here (https://bit.ly/36X3wYh)


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

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Invest in African Energy (IAE) 2027 in Paris Strengthens Its Role as Africa’s Premier Capital Allocation and Deal-Making Platform

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18 hours ago

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July 7, 2026

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Etu Energias

The Invest in African Energy Forum – taking place in Paris from 11–13 May 2027 – expands its role as a leading platform for energy investment, convening governments, operators and institutional capital to originate, structure and finance projects across Africa

CAPE TOWN, South Africa, July 7, 2026/APO Group/ –The Invest in African Energy (IAE) 2027 Forum will return to Paris for its fifth edition, strengthening its focus on investment, capital mobilization and deal-making across the full energy value chain. Confirmed for 11–13 May, IAE 2027 will bring together governments, national oil companies, operators and institutional capital to originate, structure and finance energy projects across Africa.

 

Building on the momentum of the 2026 edition, which attracted over 300 companies from more than 50 countries and facilitated three major upstream deal signings across frontier African markets, IAE 2027 further expands its investment offering against a backdrop of rising upstream discoveries, infrastructure needs and power demand alongside fragmented capital flows. The forum is designed to bridge that gap by convening ministries, development finance institutions, export credit agencies, sovereign wealth funds, infrastructure investors, private equity and commercial lenders in curated deal environments focused on execution.

The 2027 edition will be anchored by a dedicated G2B Investment Origination Day, where governments and national oil companies present structured opportunities including licensing rounds, upstream farm-ins and national energy pipelines. The Transaction Suite will serve as a curated deal room where sovereigns and operators present assets directly to qualified investors, while Investor Circles will bring together development finance institutions, sovereign wealth funds and commercial banks to focus on capital structuring, blended finance and risk mitigation tools required to unlock investment at scale.

Now returning for its fifth edition, IAE 2027 reflects the forum’s continued evolution as a leading investment platform

A flagship Ministerial Capital Roundtable will convene African energy ministers and regional organizations to address fiscal frameworks, regulatory stability and investment conditions required to mobilize capital at scale. Alongside this, a CapEx Pipeline Forum, supported by development finance institutions and export credit agencies, will focus on financing LNG developments, pipelines, power systems and cross-border energy corridors.

“Now returning for its fifth edition, IAE 2027 reflects the forum’s continued evolution as a leading investment platform. Building on the strong foundation established over the past four editions, this year’s program expands the opportunities for governments, operators and investors to engage in structured environments where projects advance, partnerships are formed and financing decisions move forward. Our objective remains the same: to turn opportunity into financed and deliverable energy assets,” said Nadine Levin, Portfolio Director at Energy Capital & Power.

The program will maintain a strong upstream foundation through an Exploration & Discovery Investment Forum focused on de-risking frontier development using advanced technologies including AI-enabled subsurface imaging and data-driven exploration, alongside the growing role of national oil companies and domestic operators in upstream investment, gas monetization and domestic energy expansion.

Beyond upstream, the Grid Convergence Forum will address gas-to-power integration, hybrid industrial energy systems and regional electricity markets. On the final day, the Commodities & Capital Allocation Forum will convene global trading houses, insurers and financial institutions to examine how commodity flows, risk pricing and insurance mechanisms shape capital deployment into African energy projects, alongside sessions on export credit agency support and mega-project finance for FLNG, offshore developments and cross-border pipelines.

By integrating sovereign deal origination, structured investor engagement and capital allocation frameworks into a single platform, IAE 2027 further strengthens its role as a three-day investment environment where projects are advanced, partnerships are structured and capital commitments are actively pursued. It positions Paris as a central hub for African energy investment at a time when the sector’s defining challenge is converting opportunity into bankable projects and financed execution.

Distributed by APO Group on behalf of Energy Capital & Power.

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JustMarkets Launches Browser-Based Web Terminal for MT5 Trading

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18 hours ago

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July 7, 2026

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MT5

The new browser-based terminal enables MT5 account holders to access trading tools without installing software, expanding the broker’s trading ecosystem

JOHANNESBURG, South Africa, July 7, 2026/APO Group/ –Global multi-asset broker JustMarkets (https://JustMarkets.com/) has launched its Web Terminal, a browser-based trading platform that enables clients to access their MT5 accounts directly through a web browser without downloading or installing additional software. The terminal is available to clients across all countries where the broker operates.

The Web Terminal was introduced following a preparation period that included technical optimization and user testing aimed at improving platform performance and usability before its public release.

Now every client can trade directly from their browser, with all the professional tools they need at their fingertips

Designed for MT5 accounts, the browser-based platform provides traders with access to a full trading environment from any compatible device. Users can access the terminal by selecting their trading account, clicking the “Trade” button, and choosing the “JustMarkets Terminal” option.

The Web Terminal includes a range of built-in trading features, including advanced charting tools with technical indicators, flexible trade volume settings, detailed information for tradable instruments, real-time market sentiment data, trading schedule and margin updates, and tools for managing multiple positions and pending orders through a single interface.

Commenting on the launch, a JustMarkets representative said: “At JustMarkets, we never stop evolving. With the Web Terminal, we wanted to remove every barrier between traders and the markets. Now every client can trade directly from their browser, with all the professional tools they need at their fingertips.”

The launch follows the introduction of the JustMarkets mobile trading application and marks another step in the company’s efforts to expand its trading ecosystem with browser-based solutions and additional trading tools.

Distributed by APO Group on behalf of JustMarkets.

 

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Shanghai – New York: to Become a Benchmark for China-U.S. Subnational Cooperation

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21 hours ago

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July 7, 2026

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New York

SHANGHAI, CHINA – Media OutReach Newswire – 7 July 2026 – On June 30, 2026, New York time, the launch ceremony and New York Forum for OUR WATER Season 3 were successfully held at Bloomberg Headquarters in New York. This event, themed “Rivers of Opportunities”, focused on the shared certainties of Shanghai and NYC, anchoring growth through open cooperation and reshaping the future through innovation and resilience.

Co-hosted by Bloomberg L.P., the Forum was attended by Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies; Tang Zhiwen, Minister, Embassy of the People’s Republic in the United States of America; Ma Xiaoxiao, Deputy Consul General of the People’s Republic of China in New York; Chen Yiqun, Director-General of Information Office of Shanghai Municipality, and Hu Minghua, President of Shanghai United Media Group and over 200 guests from the political, business, finance and cultural sectors of China and the United States. The forum is dedicated to exploring the openness and similarities between Shanghai and New York to identify a shared framework of certainties among global hub cities.

The two cities share distinct advantages in sectors such as finance and trade, while also facing common challenges in urban renewal, low-carbon development, and digital transformation. Candid and open dialogue is essential for mutual learning, and it will also inject stability into China-U.S. relations.

On the topic of how global capital understands the Chinese market, a panel titled “Investing in China, Winning the Future” featured Chinese and international guests discussing how the appeal of Chinese assets is shifting from traditional growth narratives to AI, high-end manufacturing, financial opening-up, and institutional market development. As a hub for financial opening-up, an asset allocation center, and a cluster for innovative enterprises, Shanghai has become a crucial gateway linking international capital with opportunities in China.

Consumption is one of the most dynamic topics between China and the U.S. At the second panel of “Opportunies in emerging Consumer Markets”, moderated by Bloomberg Television host David Westin, panelists observed that the consumer vitality of Shanghai and New York stems not only from market size but also from their ongoing ability to create experiences, understand people, and activate urban spaces.

Besides the forum, the New York series of events for OUR WATER Season 3 also includes: West Meets East·Shanghai & New York 2026 – A Polaroid 20×24 Special Exhibition; Chinese Opera: A Century of Dreams – An Exhibition of Art Design and Technology; An Exhibition themed Shanghai’s “One River, One Creek” and Jing’an CAZ China-U.S. Business Leaders Dialogue in New York.

These events shape a tangible and immersive waterfront narrative, allowing Shanghai and New York—two super metropolises that have thrived on water—to resonate in harmony through dialogue. As Minister Tang Zhiwen stated in his address, Shanghai and New York, are expected to become benchmarks for subnational cooperation between China and the United States, and to make new contributions to fostering a “constructive China-U.S. relationship of strategic stability.”

 

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