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

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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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Liquid Intelligent Technologies revitalises access to cloud and cyber security services in support of improved national digital resilience

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Liquid Intelligent Technologies

These services will be available to existing and potential customers in Botswana, and at the centre of the new offering is Secure360, the company’s integrated security framework

GABORONE, Botswana, May 13, 2026/APO Group/ –Liquid Intelligent Technologies (https://Liquid.Tech), a business of Cassava Technologies, a global technology leader, brings cloud and cyber security solutions and services to businesses and enterprises of all sizes in Botswana. The announcement comes as Liquid celebrates a decade of operations in the country.

 

These services will be available to existing and potential customers in Botswana, and at the centre of the new offering is Secure360, the company’s integrated security framework that enables organisations to move beyond reactive breach response towards proactive intelligence, protection and assurance. The solution combines local delivery with continental-scale infrastructure and global technology partnerships to provide organisations with enterprise-grade digital security and cloud capabilities aligned with national digital priorities.

When organisations engage with Liquid Intelligent Technologies in Botswana, they are connecting to the strength of Cassava’s integrated digital ecosystem

“Over the last decade, Liquid has deployed over 1174.08 km of fibre, bringing multi-terabit capacity and unmatched resilience to the region. By establishing a 730km backbone along the A1 road, we’ve positioned Botswana as a critical hub, linking networks from Zimbabwe, South Africa, Kenya, Zambia, the Democratic Republic of Congo, and Sudan,” said Odirile Tamajobe, Managing Director of Liquid Intelligent Technologies Botswana. “Now, by bringing the cloud and cyber security services into the country, we are empowering local businesses with world-class digital solutions, ensuring they can compete and win on the global stage.”

The expansion of Liquid’s offerings in the market reflects the broader Cassava strategy to deliver integrated digital infrastructure and platforms through its One Cassava approach.

“When organisations engage with Liquid Intelligent Technologies in Botswana, they are connecting to the strength of Cassava’s integrated digital ecosystem,” said Ziaad Suleman, CEO of Cassava Technologies SA and Botswana. “Beyond cloud and cyber security, customers can access data centres, AI readiness reviews, and tailored technology journey roadmaps, all within a unified platform designed to support secure innovation and long-term digital resilience”.

As Botswana advances on its Vision 2036 ambitions to expand digital services across government, financial services, telecommunications, and critical infrastructure sectors, Cassava’s digital services aim to strengthen national digital resilience, fostering pride and confidence in the country’s progress.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

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Verdant IMAP Act as Financial Advisor and Arranger to Metro Africa Xpress (MAX) on its USD 8 Million in Debt Capital Raise

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Verdant IMAP

The transaction establishes a foundation for further institutional capital deployment into the business

JOHANNESBURG, South Africa, May 13, 2026/APO Group/ –Metro Africa Xpress (MAX), Africa’s leading electric mobility platform, has secured USD 8 million in debt funding from Triple Jump, marking a key milestone in scaling its clean mobility operations.

Triple Jump, a Netherlands-based impact investment manager with a strong track record of financing inclusive financial institutions and clean energy businesses across emerging markets, represents one of MAX’s first international institutional lenders. Its participation underscores confidence in MAX’s operating model, asset-backed lending structure, and long-term scalability within Africa’s evolving mobility sector.

The funding will support:

  • Expansion of MAX’s electric vehicle (EV) fleet
  • Rollout of battery swap infrastructure
  • Continued development of its Pay-As-You-Go (PAYGO) financing platform

MAX’s model is designed to lower barriers to asset ownership for commercial drivers (“Champions”), enabling income generation through access to productive mobility assets while reducing operating costs relative to internal combustion alternatives.

Operating across Nigeria, Ghana, and Cameroon, with Nigeria as its core market, MAX is building an integrated ecosystem comprising:

  • Purpose-built EVs adapted for local conditions
  • Battery swapping infrastructure to address charging constraints
  • IoT-enabled fleet management systems
  • Embedded financing solutions for underserved drivers

Verdant IMAP acted as sole financial advisor and arranger on the transaction, supporting structuring, investor engagement, and execution. The transaction establishes a foundation for further institutional capital deployment into the business.

Distributed by APO Group on behalf of Verdant Capital.

 

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Rhino Resources Joins African Energy Week (AEW) as Gold Sponsor as Southern African Exploration Expands

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African Energy Chamber

Rhino Resources will participate at the 2026 edition of the African Energy Week conference and exhibition – Africa’s premier event for the energy sector – as a gold sponsor

CAPE TOWN, South Africa, May 8, 2026/APO Group/ –Exploration company Rhino Resources has joined the African Energy Week (AEW) 2026 Conference and Exhibition as a Gold Sponsor, reinforcing its role as one of Africa’s emerging independents driving frontier and greenfield exploration across Southern Africa.

 

Scheduled for October 12–16 in Cape Town, AEW 2026 comes as Rhino Resources accelerates exploration activity across Namibia’s Orange Basin while broadening its footprint into South Africa’s Karoo Basin. The sponsorship reflects the company’s strategy to deepen engagement with investors, service providers and policymakers as it advances multiple assets toward development readiness and future final investment decisions.

At the core of Rhino Resources’ upstream momentum is its multi-well deepwater drilling campaign in Namibia’s Orange Basin – one of the world’s most prolific frontier exploration hotspots. The company is targeting FIDs between late 2026 and early 2027 across operated and partner-led assets, including the co-development of the Volans and Capricornus discoveries in Petroleum Exploration License (PEL) 85.

Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value

Recent drilling results have strengthened the commercial case of these Namibian assets. The Volans-1X well delivered strong gas-condensate flow rates in February 2026, while the earlier Capricornus-1X well confirmed the presence of light oil, positioning Rhino Resources among the key players contributing to Namibia’s ambition of achieving first oil production by 2030.

Beyond Namibia, Rhino Resources is broadening its portfolio through onshore exploration in South Africa’s Karoo Basin. The company is advancing a six-well campaign targeting helium, methane and hydrogen resources in the Free State Province – a move that reflects both geographic diversification and a wider strategy to support a more resilient and diversified regional energy mix.

This expansion comes at a time when Southern African economies face energy security challenges due to ongoing disruptions to global shipping routes, reinforcing the importance of unlocking domestic resource potential to support industrial growth and reduce external vulnerabilities.

Rhino Resources’ role as Gold Sponsor at AEW 2026 therefore comes at a pivotal stage in its growth trajectory. The event provides a platform to showcase its exploration progress, strengthen partnerships and position its projects within the broader African energy investment landscape.

At AEW 2026, Rhino Resources’ executives are expected to participate in high-level panel discussions, offering insights into frontier basin development, cost-efficient exploration strategies and pathways to fast-tracking project commercialization across emerging African markets.

“Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber. “The company’s recent discoveries in Namibia and expanding exploration strategy in South Africa highlight the scale of opportunity across the continent and the critical role independents play in translating resources into production, investment and economic growth.”

Distributed by APO Group on behalf of African Energy Chamber.

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