Loan Company Exploited Social Grant Beneficiaries, Court Rules
JDG Trading sold disability or retrenchment insurance to people who were already disabled or unemployed
provider
SIU Finds Work Paid for but Not Done on Critical Water Infrastructure
Criminal investigations, civil litigation, lifestyle audits, and disciplinary action loom large as SIU probes dodgy water sector contracts
Swellendam Roadblock Controversy Raises Red Flags
GOOD Statement by Bongani Sonqwenqwe ,GOOD Overberg District Councillor 04 June 2025 The GOOD Party notes with concern the growing public backlash and rising community unease following allegations regarding the legality and procedural integrity of recent traffic enforcement roadblocks in Swellendam. At the centre of the controversy is the Municipality’s outsourcing of mobile paypoint systems […]
The post SWELLENDAM ROADBLOCK CONTROVERSY RAISES RED FLAGS appeared first on For Good.
Strandfontein Camp: Five Years On, No Accountability
GOOD Statement by Suzette Little,GOOD Deputy Secretary-General & City of Cape Town Caucus Chairperson 30 May 2025 On the fifth anniversary of the closure of Cape Town’s controversial Strandfontein “homeless persons camp”. The GOOD party submitted questions to the executive mayor for written response in terms of rules of order 22.1 and 22.5. The camp […]
The post STRANDFONTEIN CAMP: FIVE YEARS ON, NO ACCOUNTABILITY appeared first on For Good.
Africa Data Centres Welcomes Gold Synergy’s Self-Cooling Rack Deployment at the CPT1 Facility in Cape Town
Africa Data Centres (www.AfricaDataCentres.com), a business of Cassava Technologies, is pleased to announce the successful deployment of a self-cooling rack by Gold Synergy at its CPT1 facility in Cape Town. This installation represents a significant advancement in the evolution of high-density computing in Africa and supports Africa Data Centres' commitment to sustainable, efficient infrastructure solutions.
The innovative self-cooling rack, commissioned in January 2025, is designed to meet the increasing demand for high-performance computing while minimising energy consumption. As the region experiences rising power and cooling challenges driven by artificial intelligence, big data, and enterprise workloads, self-contained cooling technologies like this offer a smart and scalable solution.
Gold Synergy brings a wealth of expertise in advanced cooling solutions. The deployment at CPT1 demonstrates the viability of self-cooling racks in African conditions, setting the stage for broader collaboration in supporting regional ESG objectives.
“Our collaboration with Gold Synergy introduces new efficiencies in high-density hosting,” said Adil El Youssefi, CEO of Africa Data Centres. “By integrating this cutting-edge cooling solution at CPT1, we are creating a model for how data centres in Africa can scale intelligently while remaining aligned with global sustainability targets. The success of this deployment positions both Africa Data Centres and Gold Synergy to expand CDU-based cooling technologies across the region, further supporting Africa's growing need for next-generation infrastructure.”
“Our self-cooling rack solution is a game-changing approach for high-density computing environments,” said Fortune Utubor, Executive at Gold Synergy. “This deployment reflects our shared commitment to energy efficiency and operational excellence.”
South Africa remains a strategic digital hub for the continent. With its reliable infrastructure, favourable location, and increasing demand for cloud and AI services, the country plays a pivotal role in the digital transformation of Africa. As enterprises move mission-critical applications closer to home, infrastructure capable of supporting such workloads efficiently becomes essential.
The deployment not only increases the CPT1 facility's hosting capacity without requiring major infrastructure modifications, but it also reinforces Africa Data Centres' position as the continent's leading carrier-neutral data centre provider. The new solution helps reduce reliance on traditional cooling systems and contributes to operational cost savings for both clients and facility operators.
Distributed by APO Group on behalf of Africa Data Centres.
ADC boilerplate :
Africa Data Centres owns and operates Africa's largest network of interconnected, carrier and cloud-neutral data centre facilities. Bringing international experts to the pan-African market, Africa Data Centres is a trusted partner for rapid and secure data centre services and interconnections across Africa. Strategically located in South, East and West Africa our world-class data centre facilities provide a home for all business-critical data for Africa's small, medium and large enterprises and global hyperscale customers. https://www.AfricaDataCentres.com
Cross Switch Bolsters African Footprint with Strategic Partnership with Pesawise, Kenya
Cross Switch (https://Cross-Switch.com/), a provider of class-leading payment solutions, has strengthened its African presence by officially launching services in Kenya and partnering with licensed local payment provider Pesawise.
This collaboration makes the most of Pesawise's solid regulatory standing and trusted reputation, allowing Cross Switch to establish it's footprint and, together with Pesawise, immediately deliver robust payment solutions to businesses, merchants, and charitable organizations throughout Kenya.
Cross Switch brings to the partnership a highly scalable global payments infrastructure, allowing merchants simple and frictionless acceptance across multiple payment channels, including Visa, Mastercard, AmEx, mobile money and bank platforms.
Through Cross Switch's unified platform, businesses can now take advantage of simplified payment processing, significantly reduced costs, and faster transaction settlements.
The Cross Switch solution is tailored to support businesses of every shape and size, driving financial inclusion while at the same time empowering social impact organisations.
Numerous merchants across multiple sectors, including hospitality, e-commerce and delivery services and crypto (in approved markets) are already using Cross Switch's innovative solutions on the African Continent and across Latin America. The confidence the Kenyan market has already shown in Cross Switch has already shown immediate effect in Kenya with the with Pesawise partnership.
Cross Switch has a powerful track record of success, and it relies on Pesawise, a nimble locally licensed payment provider with a young and dynamic management team, to contribute meaningfully to Cross Switch's growth ambitions and customer-focused philosophy.
Cross Switch's CEO, Tim Davis, remarked “During the establishment phase of this partnership it is refreshing to see a shared common set of values with Pesawise, to provide our customers with best-in-class service levels and straightforward solutions. And a common mission to democratize technology and drive social impact across Africa. With their exceptional team and proven ability to provide relevant value-added services, we believe Pesawise will excel in the fast-moving fintech space.”
Pesawise, a fully regulated and authorised Payment Service Provider, is in good standing with the Central Bank of Kenya, ensuring rigorous compliance and secure handling of merchant funds in trusted Tier-1 banks.
Jamal Khan, Pesawise's CEO said, “We're thrilled to take this next step in our journey with Cross Switch as our technology partner. Their deep knowledge and robust technology solutions will enable us to provide innovative solutions tailored to the needs of emerging markets. Together, we aim to strengthen the digital payments ecosystem in Kenya. We've already secured key wins together—including supporting merchants like Glovo Kenya—through a combination of Cross Switch's expertise and our dedicated local team.”
As it has done in all markets, Cross Switch is committed to delivering advanced payment solutions backed by exceptional fraud prevention, risk management, and efficient reconciliation capabilities, further strengthening its value proposition in an evolving financial landscape.
Businesses interested in simplifying their payment processes are invited to connect directly at https://apo-opa.co/43usg4F to discover how Cross Switch's tailored solutions can drive their growth and operational efficiency.
Distributed by APO Group on behalf of Cross Switch.
Contact:
South Africa: (+27) 21 205 5818
Luxembourg: (+352) 2088 1454
https://apo-opa.co/43usg4F
About Cross Switch:
Cross Switch is a payments technology company founded in 2022, operating across emerging markets, with active operations in South Africa, Morocco, Ivory Coast and across Latin America. It provides flexible, secure and scalable solutions that support both local and cross-border transactions, helping merchants, fintechs and non-profits expand their reach and streamline their operations. Cross Switch is committed to driving financial inclusion and growth through collaboration, robust infrastructure, high service levels and a strong focus on emerging market needs.
About Pesawise:
Pesawise is a licensed payment service provider headquartered in Kenya. Pesawise offers robust, API and Platform-driven solutions for local collections, payouts, and virtual accounts. Trusted by leading enterprises and SMEs (such as Kuehne + Nagel and SeamlessHR), Pesawise is dedicated to reducing transaction costs, easing reconciliation challenges, and enhancing transparency for merchants, individuals, and digital ecosystems. Through deep market expertise, reliable infrastructure, Pesawise is shaping the future of digital commerce across Kenya.
Revolutionising Cloud Access for Nigerian Business With Local Innovation
At the recent Connect Xperience event, TelCables Nigeria unveiled how Clouds2Africa, a locally hosted cloud solution, is transforming the way businesses in Nigeria access, manage, and expand their digital resources.
“Clouds2Africa is tailored to Nigeria's unique business environment”, explained Israel Ogboi, Pre-Sales Engineer at TelCables Nigeria. “With its scalable infrastructure, robust security protocols and user-friendly interface, our solution rivals – and in some cases surpasses – the more complex international cloud offerings.” Hosted in two Tier III data centres in Lagos, the platform guarantees lower latency, full compliance with local regulations and enhanced reliability.
In a live demo, Israel showed how businesses can efficiently scale operations and securely store data while meeting performance expectations. He also highlighted ACloudConnect, a hybrid Network-as-a-Service (NaaS) option that provides secure, dedicated links between on-premises infrastructure and global cloud providers – bypassing the public internet and reducing vulnerability.
Despite existing challenges such as policy constraints and talent shortages, Ogboi noted that TelCables is working closely with government and partners to drive skills development and cloud literacy. “We're debunking myths and breaking barriers. Through events like Connect Xperience and our local Partner Enablement Program, we're enabling ISPs and resellers to adopt revenue-sharing models and deliver future-ready cloud services,” he said.
Fernando Fernandes, CEO of TelCables Nigeria, added: “Backed by Angola Cables' extensive global infrastructure – including an integrated subsea cable network and over 300 cloud onramps – we're positioning Nigeria at the heart of Africa's digital future. Our mission is to empower local businesses with the tools they need to compete globally.”
Distributed by APO Group on behalf of Angola Cables.
About Angola Cables:
Angola Cables is an internationally established ICT and digital solutions and network services provider. The company specializes in connectivity solutions for the wholesale market and offers tailored digital services and solutions across multiple industries, including Cloud resources for the corporate enterprise sector.
Known for its innovation, Angola Cables operates a robust global backbone network, providing access to major IXPs, Tier I operators, and global content providers. With more than 30 PoPs and connections to plus 930 interconnected Data Centres and 6000 peering agreements, traffic over its international network is more than 18 500 Tbps.
The company has its own submarine cable network spanning over 33,000 kilometres (WACS, SACS, and MONET) and extends its services to over 50,000 kilometres through partner cables, connecting the Americas, Africa, Europe, and Asia.
Additionally, the company operates two world-class Data Centres, AngoNAP Fortaleza in Brazil and AngoNAP Luanda in Angola. Angola Cables also manages PIX in Brazil and AngonIX in Angola - one of the leading internet traffic exchange points in Africa that directly connects to over 21 IXPs worldwide.
With a significant international presence, Angola Cables is expanding its operations into strategic markets such as Brazil, South Africa, the United States and Nigeria. The company promotes intercontinental interconnection, driving digital and economic development, and ranks among the top 25 internet service providers in the world today.
*The Center for Applied Internet Data Analysis (CAIDA) 2023
For more information, visit the website: www.AngolaCables.co.ao
About TelCables West Africa:
TelCables West Africa is powered by the Angola Cables network, a multinational telecommunications company operating in the wholesale market. The company operates connectivity, IT solutions and services as well as international data circuit capacity and IP Transit via submarine cables.
As the most connected network operator in Africa, we provide secure, low-latency direct routes from West Africa to the USA and South America and from West Africa to London. With our presence across a few Nigerian IP hubs from Lekki, WACS CLS, Medallion DC, Rack Centre and others, and connections across Africa via the Djoliba network, we can connect your business to the world.
For more information, visit the website: https://TelCables.ng/
Telcables Nigeria to Host Connect Xperience Event to Discuss the Future Adopation of Local Cloud Services
TelCables Nigeria, a subsidiary of Angola Cables (www.AngolaCables.co.ao), is proud to announce that it will be hosting the Connect Xperience event. This initiative will bring companies and strategic partners together to evaluate how local cloud infrastructure and services can assist in accelerating digital transformation and bring far reaching benefits to multiple sectors across the Nigerian economy.
At present, Nigeria's cloud computing market is valued at around $1.03 billion and is expected to grow to $3.28 billion by 2030. With the exponential growth in the digitalization of the financial, technological and commercial sectors, dependence on cloud services is becoming increasingly critical.
The event will highlight the advantages of adopting a local cloud solution, that offers lower latency, greater data sovereignty, enhanced security and improved compliance with local regulations.
The IT sector currently contributes approximately 20% to Nigeria's real GDP, underscoring the pivotal role that the sector plays in the nation's economy.
Fernando Fernandes, CEO of TelCables Nigeria said, “we believe that the future of the cloud in Africa lies in innovative and adaptable solutions that have been developed in Africa, for Africa - and the unique requirements and demands of businesses and users across the continent. With strategic data centers and world-class connectivity, we are ready to support sustainable digital growth in Nigeria.”
During the Connect Xperience, TelCables experts will present cloud models tailored to the needs of Nigeria companies, from startups to large corporations, as well as opportunities for local resellers and integrators looking to expand their services based on a robust, affordable and available infrastructure in Lagos.
“Connect Xperience promises to be a meeting point for IT decision-makers, business leaders and industry professionals interested in exploring reliable, scalable and local cloud solutions that can improve business processes and boost the local Nigerian economy,” concluded Fernandes.
Distributed by APO Group on behalf of Angola Cables.
About Angola Cables:
Angola Cables is an internationally established ICT and digital solutions and network services provider. The company specializes in connectivity solutions for the wholesale market and offers tailored digital services and solutions across multiple industries, including Cloud resources for the corporate enterprise sector.
Known for its innovation, Angola Cables operates a robust global backbone network, providing access to major IXPs, Tier I operators, and global content providers. With more than 30 PoPs and connections to plus 930 interconnected Data Centres and 6000 peering agreements, traffic over its international network is more than 18 500 Tbps.
The company has its own submarine cable network spanning over 33,000 kilometres (WACS, SACS, and MONET) and extends its services to over 50,000 kilometres through partner cables, connecting the Americas, Africa, Europe, and Asia.
Additionally, the company operates two world-class Data Centres, AngoNAP Fortaleza in Brazil and AngoNAP Luanda in Angola. Angola Cables also manages PIX in Brazil and AngonIX in Angola - one of the leading internet traffic exchange points in Africa that directly connects to over 21 IXPs worldwide.
With a significant international presence, Angola Cables is expanding its operations into strategic markets such as Brazil, South Africa, the United States and Nigeria. The company promotes intercontinental interconnection, driving digital and economic development, and ranks among the top 25 internet service providers in the world today.
*The Center for Applied Internet Data Analysis (CAIDA) 2023
For more information, visit the website: www.AngolaCables.co.ao
About TelCables West Africa:
TelCables West Africa is powered by the Angola Cables network, a multinational telecommunications company operating in the wholesale market. The company operates connectivity, IT solutions and services as well as international data circuit capacity and IP Transit via submarine cables.
As the most connected network operator in Africa, we provide secure, low-latency direct routes from West Africa to the USA and South America and from West Africa to London. With our presence across a number of Nigerian IP hubs from Lekki, WACS CLS, Medallion DC, Rack Centre and others, and connections across Africa via the Djoliba network, we can connect your business to the world.
For more information, visit the website: https://TelCables.ng/
Africa Finance Corporation Appoints Ireti Samuel-Ogbu as Chair of Board of Directors
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent's leading instrumental infrastructure solutions provider, today announced the appointment of Mrs Ireti Samuel-Ogbu as Chair of its Board of Directors. She succeeds Mr. Emeka Emuwa who has completed 12 years of meritorious service to the Corporation.
Mrs. Samuel-Ogbu brings a wealth of experience spread over three decades leading and transforming the banking sector in Europe, Middle East, and Africa. Until recently, she led Citi's institutional businesses in Nigeria and Ghana, with oversight across Banking, Markets and Services. During this period, she steered the franchise through significant macroeconomic and regulatory headwinds, strengthening its strategic momentum and resilience.
Her international career within Citibank included senior leadership roles across over 50 countries in the Europe, Middle East, and Africa region, during which time she worked in the United Kingdom, Nigeria, and South Africa.
Mrs. Samuel-Ogbu has extensive boardroom experience including Citibank Nigeria where she was a Non-Executive Director for 6 years and Chair of the Risk Committee prior to becoming the Managing Director. She also served on the board of CHAPS Clearing UK, the high value payment system now operated by the Bank of England and a UK-based charity, Opportunity International. Her extensive experience and unwavering dedication to the advancement of Africa make her a valuable asset to AFC at a time when the Corporation is more committed than ever to accelerating Africa's transformation through bold investments, innovative financing models and catalytic partnerships.
AFC recently delivered a record-breaking FY2024 financial performance, with total revenue increasing by 22.8% to US$1.1 billion, surpassing the US$1 billion milestone for the first time. This strong performance was driven by several transformational projects including acting as the Lead Project Developer for the Lobito Corridor, a transformative multi-country transport network connecting Angola, Zambia and the Democratic Republic of Congo (DRC), financing of the expansion of the Kamoa-Kakula Copper Complex in the DRC — one of the world's highest-grade, low-carbon underground copper mines and financing support for the commissioning of the Dangote Refinery, the largest in Africa.
Speaking on the appointment, Samaila Zubairu, President & CEO of AFC, said: " We are delighted to welcome Mrs Ireti Samuel-Ogbu as Chair of the Board. Her wealth of experience, visionary leadership and deep understanding of Africa's financial landscape will be invaluable as we navigate our next phase of growth- expanding our impact, mobilising urgently needed capital and delivering transformative projects that enable inclusive and sustainable prosperity across the continent.”
Mrs Ireti Samuel-Ogbu commented: “I am honoured to take on the role of Chair at AFC, an institution that serves as a trusted bridge between international capital and Africa's dynamic growth opportunities. I look forward to working closely with the board, management, and all stakeholders to advance the Corporation's mission and strengthen its role as the leading provider of strategic, investment-driven solutions that unlock Africa's full economic potential.”
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile +234 1 279 9654
Email: yewande.thorpe@africafc.org
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth.
Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Cross Switch Solidifies Market Position With New Payment Licence in South Africa
Cross Switch (www.Cross-Switch.com), a leading provider of innovative payment solutions, has reached a significant milestone by securing its own Third-Party Payment Processor (TPPP) licence.
The TPPP, issued by the Payments Association of South Africa (PASA) and sponsored by Absa, is a regulatory status that strengthens Cross Switch's position in the payments ecosystem. This achievement complements Cross Switch's recent certification as a Visa Payment Facilitator (PayFac).
Cross Switch brings a highly flexible payment platform (https://apo-opa.co/3GA0r1Q) to South Africa, enabling business scalability and growth. The company can now independently onboard merchants, fintechs and charities, substantially enhancing its service offering and announcing itself as an essential player in the South African payments landscape.
By obtaining an all-important TPPP licence, Cross Switch has reinforced its commitment to delivering quality, compliant and flexible payment solutions tailored specifically for South Africa's private and charitable sectors.
Cross Switch's entry as a licensed provider brings an adaptable API that allows South African merchants to transact seamlessly on the African continent, including in key markets such as South Africa, Kenya, Morocco and Ivory Coast. For merchants looking to expand into Latin America, Cross Switch also offers Argentina, Brazil, Mexico and Chile — with new countries, both in Africa and in other emerging markets, to be announced very soon!
“This is a vital step in expanding our network and strengthening our presence across the continent,” said Mark Chirnside, CEO of Africa, Cross Switch. “By enabling local merchants with multiple payment options, we're empowering African businesses with the tools to reach broader markets and unlock growth opportunities.”
Cross Switch now enables South African businesses to confidently target rapid expansion and deeper market penetration through frictionless access to local and international payment methods via its flexible API (CS+). The single API empowers merchants to accept payments across Africa and LATAM, and accept the local payment methods.
Cross Switch's immediate future in South Africa involves accelerating merchant onboarding. Contracts already signed represent a client base exceeding 1,000 merchants in South Africa. To complement over 1,000 merchants already using CS+ on the Continent.
Securing this licensing is a significant step forward in the Cross Switch journey. The company strives to realise its vision of delivering modern payment solutions that meet the varied needs of merchants and non-profits. The company's highly flexible payment platform drives financial inclusion and business scalability.
The company is also committed to expanding rapidly, enhancing its payment methods, and integrating advanced reconciliation engines — all underpinned by rigorous fraud prevention and risk management systems.
“Investing in South Africa is a strategic priority for Cross Switch,” said Tim Davis, Group CEO of Cross Switch. “We're resourcing up locally to ensure we're ready to meet growing demand, and this licence and certification enable us to deliver world-class payment services that are both agile and scalable.”
Cross Switch invites businesses interested in exploring robust and flexible payment solutions to connect directly at https://apo-opa.co/4jrGOrw to learn how its tailored offerings can support and amplify their operational ambitions.
Distributed by APO Group on behalf of Cross Switch.
Contact
South Africa: (+27) 21 205 5818
Luxembourg: (+352) 2088 1454
https://apo-opa.co/4jrGOrw
About Cross Switch:
Cross Switch is a payments technology company founded in 2022, operating across emerging markets, with active operations in South Africa, Kenya, Morocco, Ivory Coast and across Latin America. It provides flexible, secure and scalable solutions that support both local and cross-border transactions, helping merchants, fintechs and non-profits expand their reach and streamline their operations. Cross Switch is committed to driving financial inclusion and growth through collaboration, robust infrastructure, high service levels and a strong focus on emerging market needs.
Lesotho Under Pressure to Approve Starlink Licence
Prime Minister says his government is removing obstacles to US investment, including Starlink, in the wake of the tariff hike
Africa Finance Corporation Tops Us$1 Billion Revenue for First Time as Landmark Projects Unlock Growth Across the Continent
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent's leading infrastructure solutions provider, has announced its strongest financial performance to date, with total revenue for the year ended 31 December 2024 surpassing US$ 1 billion for the first time in the Corporation's history.
This record performance marks a significant milestone in AFC's mission to close Africa's infrastructure gap through scalable, de-risked investments that attract global capital and deliver tangible development outcomes. The Corporation posted a 22.8% increase in total revenue to US$1.1 billion and a 22.3% rise in total comprehensive income to US$400 million, up from US$327 million in 2023.
AFC's earnings growth was driven by improved asset yields, prudent cost-of-funds management and sustained traction in advisory mandates.
Further significant financial highlights include:
- Net interest income up 42.5% to US$ 613.6 million
- Fee and commission income rose to US$109 million, the highest in over five years
- Operating income climbed 42.7% to US$709.7 million
- Total assets reached a record US$14.4 billion, a 16.7% year-on-year increase
- Liquidity coverage ratio strengthened to 194%, providing over 34 months of cover
- Cost-to-income ratio improved to 17.3% from 19.6% in 2023
Throughout 2024, AFC continued to scale its impact by mobilising capital for landmark projects across energy, transport, and natural resources. These included the Lobito Corridor – a cross-border railway development spanning Angola, the Democratic Republic of Congo (DRC), and Zambia. AFC led the initiative to secure a concession agreement within one year of the initial Memorandum of Understanding (MoU), an unprecedented achievement for a project of its scale. In the DRC, AFC also invested US$150 million in the Kamoa-Kakula Copper Complex, Africa's largest copper producer and one of the most sustainable globally, thanks to its high-grade ore and renewable-powered smelter.
Other milestones transactions included financing support for the commissioning of the Dangote Refinery, the largest in Africa, and continued progress on AFC-backed Infinity Power Holding's 10 GW clean energy ambition, with power purchase agreements secured in Egypt and South Africa. AFC also invested in the 15GW Xlinks Morocco-UK Power Project, providing US$14.1 million to support early-stage development of a transcontinental renewable energy pipeline between North Africa and Europe.
AFC strengthened its capital base and expanded its investor network through several landmark funding initiatives. These included a US$ 1.16 billion syndicated loan - the largest in its history, a US$500 million perpetual hybrid bond issue, and the successful execution of Nigeria's first-ever domestic dollar bond, which raised US$900 million at 180% oversubscription. AFC also returned to the Islamic finance market after eight years, closing a US$400 million Shariah-compliant facility.
The year also saw strong momentum in equity mobilisation, with US$181.8 million in new capital raised from ten institutional investors. These included Turk Eximbank - AFC's first non-African sovereign shareholder - the Arab Bank for Economic Development in Africa (BADEA), and several major pension funds spanning Cameroon, Seychelles, Mauritius, and South Africa. Ratings agencies affirmed AFC's robust credit profile, with AAA ratings from S&P Global (China) and China Chengxin International, and a stable A3 Outlook from Moody's.
“These results send a clear message that strategic investment in African infrastructure creates lasting value for both beneficiaries and investors,” said Samaila Zubairu, President & CEO of AFC. “In 2024, we exceeded the billion-dollar revenue mark, delivered game-changing projects, and reinforced our financial resilience—demonstrating the scalability of our unique model that blends purpose with performance to accelerate Africa's economic transformation.”
Read the full annual report here (https://apo-opa.co/424qlmR)
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth.
Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. www.AfricaFC.org
Parliamentary Committee Calls for Dissolution of Basketball SA Board
Last year the department had to step in to rescue the International Basketball Federation’s U18 Afrobasket tournament hosted in South Africa
Leaders From Angola, Ethiopia, Egypt & South Africa to Lead Discussions at Africa Finance Corporation’s (AFC) 5th Country & Stakeholder Symposium
Africa Finance Corporation (AFC) (www.AfricAFC.org), the continent's leading infrastructure solutions provider, is convening the 5th edition of its Country & Stakeholder Symposium (CSS) tomorrow, April 8, 2025, from 12:30 to 14:00 WAT.
This year's theme, “Making Africa's Institutional Savings Work Better for the Continent,” will spotlight the urgent need to bridge the financing gap in Africa by harnessing the power of domestic institutional capital to fund long-term development. The Symposium will serve as a vital platform to explore how Africa can better mobilize its own institutional savings and redirect them into high-impact, return-generating projects aligned with national development priorities.
The Symposium will showcase AFC's innovative capital mobilization strategies and financial structuring expertise, with a focus on developing new financial products and asset allocation models that attract and retain institutional investors.
Discussions will also include potential regulatory enhancements needed to unlock domestic capital for productive investments, while maintaining strong protections for savers.
High-profile leaders and industry experts from the public and private sectors will be speaking at the symposium including:
- H.E. Vera Esperança dos Santos Daves De Sousa, Minister of Finance, Angola
- Dr. Brook Taye, CEO, Ethiopian Investment Holdings
- Kabelo Rikhotso, Chief Investment Officer, Public Investment Corporation (PIC), South Africa
- Armando Manuel, Chairman, Angola Sovereign Wealth Fund
- Ayaan Zeinab Adam, Senior Director and CEO, AFC Capital Partners
The event will be moderated by CNBC Africa Senior Anchor, Fifi Peters, and will convene key stakeholders from across the continent's public and private sectors.
This is a virtual event. To register, please visit: Register here https://apo-opa.co/3EbZQTh
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth.
Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception. www.AfricAFC.org
Call for African Rainbow Minerals to Stop Selling Coal to Israel
Two ships carrying South African coal are due to arrive in Israel
Trio appear in court for Fort Hare fraud case
Trio appear in court for Fort Hare fraud case
Three suspects linked to a a multi-million-rand fraud and money laundering scheme at the University of Fort Hare have been granted bail, the Directorate for Priority Crime Investigation (Hawks) said.
The three were arrested in a breakthrough against corruption in the education sector by the East London based Serious Corruption Investigation team.
Former Acting Chief Financial Officer Simbongile Geqeza (41), former Head of Investigation and Vetting Isaac Plaartjies (57) and family friend Claudine Davids (44) appeared before the Alice Magistrate’s Court on Wednesday where they faced charges of fraud, money laundering and corruption.
“The arrests follow a detailed investigation by the Serious Corruption Investigation of the Hawks, which uncovered two fraudulent schemes that drained university funds amounting to more than R2 million,” the Hawks said in a statement on Wednesday.
The first case dates back to 2 September 2021, when Geqeza allegedly issued a fraudulent instruction to a bank, authorising an illegal payment of R1.4 million to a company with no legitimate ties to the university.
The scheme was exposed when university management noticed financial discrepancies and reported the matter to the Hawks.
“During the meticulous investigation conducted by the Hawks, a second fraudulent transaction was uncovered, involving a payment of R985,000 to a service provider for investigative services that were never rendered.
Furthermore, the service provider allegedly claimed to have assisted the Hawks during the university investigation, even though no services [were] being provided. This payment was allegedly facilitated by Plaartjies in collaboration with the claimant and the funds were allegedly funnelled to Davids.”
The suspects were arrested in different parts of the country during a coordinated Hawks operation on 1 April 2025.
The court granted each accused bail of R10,000.
“The case has been postponed to 4 April 2025 for further investigation.” – SAnews.gov.za
Edwin
Thu, 04/03/2025 - 10:21
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NICD warns of increase in cases of respiratory diphtheria
NICD warns of increase in cases of respiratory diphtheria
The National Institute for Communicable Diseases (NICD) has urged citizens to check their children’s vaccination status due to a rise in diphtheria cases in the country.
Since the beginning of 2025, up until 23 March, diphtheria, caused by the bacterium Corynebacterium diphtheriae, has been confirmed in 40 people in South Africa.
Of these cases, 19 exhibited symptoms, while 21 were asymptomatic.
“These asymptomatic individuals were carriers identified during contact tracing,” the statement read.
According to data from the NICD, there were 15 reported cases of respiratory diphtheria in the Western Cape, two cases in Gauteng, three cases in Mpumalanga, and one probable case in Limpopo.
Laboratory tests did not confirm the case from Limpopo, but the person exhibited symptoms consistent with respiratory diphtheria.
Over 78% of the cases have occurred in adults aged 18 and older.
Among the symptomatic cases, the public health institute said it was important to note that nine people have died, resulting in a case fatality rate of 27% (nine out of 33 cases) since the beginning of 2024.
“Adults who have not had a diphtheria vaccine in the last 10 years are urged to seek vaccination at a clinic or with their usual healthcare provider.
“Pregnant women are advised to get the vaccine with each pregnancy to protect the baby from diphtheria, tetanus, and pertussis.”
Diphtheria is a contagious, severe, vaccine-preventable illness usually associated with a sore throat, fever, and large, swollen glands in the neck.
The NICD said this illness is sometimes called a “bull neck”, and on examining a patient, the doctor will see a characteristic adherent membrane over the tonsils and the throat, also known as a “pseudomembrane”.
“If not treated early, the public health institute said diphtheria causes difficulty in breathing and can lead to complete blockage of the airway and death. The organism also produces a toxin that affects the heart muscle, kidneys, and nervous system, leading to life-threatening illness.”
Treatment is with diphtheria antitoxin to neutralise the toxin produced by the bacterium and appropriate antibiotics to eradicate the organism, which should be given early to be effective.
The NICD is encouraging doctors and healthcare workers to be on high alert for suspected diphtheria cases and are urged to report cases on the Notifiable Medical Condition app or the NICD website.
The NICD said the best protection against diphtheria is vaccination.
Infant vaccine is given at six, 10, and 14 weeks of age, with booster doses at 18 months and six and 12 years.
The available vaccines include Dt (diphtheria and tetanus) and DTaP (diphtheria, tetanus, and acellular pertussis or whooping cough). – SAnews.gov.za
Gabisile
Mon, 03/31/2025 - 09:41
443 views
SCOPA Alarmed Following Oversight Visit to Two Eastern Cape Municipalities
At 8 pm on Friday, 28 March 2025, the Standing Committee on Public Accounts (SCOPA) concluded its week-long oversight visit to the Eastern Cape's OR Tambo District Municipality and Buffalo City Metropolitan Municipality where it noted with alarm the state of most of the projects it visited at both municipalities.
The projects were chosen following the reports the committee received from the Auditor-General of South Africa (AG) and the Special Investigating Unit (SIU).
Key oversight observations:
- Chronic capital project delays with cost overruns being the norm rather than the exception, to the tune of hundreds of millions.
- Persistence of years-long legacy of supply chain and financial management misdeeds and mismanagement – leading to write-offs or unresolved irregular expenditure.
- Consulting engineers certify invoices for payment when work has not been completed and are never held accountable.
- A culture of no consequences, with executive authorities either quashing reports on malfeasance or defending inexcusable failure to act.
- Infrastructure departments and projects appear to be a cesspool of malfeasance and maladministration.
OR Tambo District Municipality
The committee visited the Lusikisiki Sewerage Project, whose third phase has been plagued by delays, with a service provider abandoning the site after it ran out of funds. The committee found on the site abandoned pipes and materials that, according to the municipality officials, are still usable. But the committee could not ascertain whether any had been stolen.
The visit was followed by a visit to Ntsonyini Dam in Port St. John's, which has also been delayed for years, notwithstanding a lot of money spent on it. The committee found a lot of unused materials strewn at the site, yet the project is still far from completion and more money is needed to complete it. Other parts of the project, which depend on the dam, have nonetheless progressed but cannot be utilised due to the delayed completion of the dam.
Members of the committee were alarmed to learn that some senior officials who have been arrested on more than one occasion are still on duty, with the Municipal Manager and the Executive Mayor defending their continued presence at work. The committee made its displeasure clear and demanded that immediate action be taken to protect the integrity of the district municipality.
In other cases, the committee found that the director of a company recently awarded a contract of over R105 million has been charged with fraud pertaining to Alfred Nzo District Municipality and officials claimed to be unaware about that.
The Mqanduli Bulk Water Project which was also visited by the committee, is beset with various problems, despite upbeat reporting by officials. The OR Tambo District Municipality is unable to draw water from Mthatha Dam due to a defective pipe owned by the Department of Water and Sanitation and instead draws directly from Mthatha River. The Thornhill Water Treatment Works is, in any event, below the capacity needed to supply the network of reservoirs that are supposed to bring water to urban and rural residents in the district.
The committee heard residents complaining of frequent and drawn-out water shortages and received from officials accounts of old infrastructure that breaks down often, leading to further water cuts. This affects both households and Walter Sisulu University.
Although the committee has noted signs of improvement in audit outcomes at the OR Tambo District Municipality, it remains deeply concerned by project delays, cost overruns, lack of consequences for errant officials and seemingly poor due diligence in the selection of service providers.
Buffalo City Metropolitan Municipality
The committee visited the Zwelitsha Waste-water Treatment Plant, which has been beset by chronic delays, mainly involving litigation and payment disputes. The plant remains incomplete and is causing delays in housing developments in the region. The site is poorly maintained, frequently vandalised and is vulnerable to organised crime.
However, it was at the Mdantsane NU2 Swimming Pool and Water World projects where the committee experienced first-hand the most egregious examples of years of mismanagement, malfeasance and possible fraud and corruption. While R57 million and R121 million have been spent at Mdantsane and Waterworld respectively, both projects are effectively unusable due to neglect, vandalism and non-existent maintenance.
The committee was further alarmed to learn that the Speaker of Council, the Chief Whip and the Executive Mayor have on more than one occasion quashed damning reports pertaining to the projects. They were unable to provide convincing reasons why this was the case, leading to what appears to be a culture of impunity and procurement malfeasance.
Conclusion
The committee will carefully consider its observations and table a comprehensive report before the National Assembly. Some matters will be referred to the AG for special audits and the SIU to pursue civil recoveries against service providers and staff.
It also became clear to the committee that urgent action must be taken in respect of supply chain, infrastructure and project management units where most of the malfeasance appears to be rooted, with some officials reportedly owning assets well beyond the salaries they earn.
While the committee noted that OR Tambo District Municipality and Buffalo City Metropolitan Municipality had recovery programs in place, it is nonetheless clear that both are far from recovery.
Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
Incubator programme to empower emerging developers
Incubator programme to empower emerging developers
Human Settlements Minister Thembi Simelane has hailed the Emerging Developer Incubator and Post-Investment Support Programme, which aims to empower emerging developers.
Launched in Sandton, Gauteng, the incubator programme will catalyse the transformation of the built environment and assist the Department of Human Settlements in achieving its five-year targets.
The department’s 2025/2030 Medium Term Development Plan (MTDP) seeks to deliver over 200 000 housing units, including 237 000 serviced sites, and 15 000 social housing units. The plan also seeks to upgrade over 4000 informal settlements.
The technical support programme, a brainchild of the department’s agency, the National Housing Finance Corporation (NHFC), will present an opportunity for contractors and emerging property developers to participate and play an active role in assisting the department in housing the nation.
Speaking at Friday’s launch, Simelane commended the NHFC for initiating the “indispensable and bespoke” incubation programme, noting that working together in the human settlement value chain, they can “move the needle as far as transformation is concerned".
The Minister highlighted that the initiative is intrinsically linked to one of the priorities of the government of driving inclusive growth and job creation, and a transformative three-year initiative designed to promote inclusivity and sustainability within the housing sector.
Recognising the challenges faced by emerging developers, including weak balance sheets, limited access to finance, and inadequate technical expertise, Simelane said the NHFC has strategically introduced this programme to address these barriers directly, by providing structured support to aspiring developers, with a keen focus on majority Black-owned and designated groups.
“What is particularly outstanding is that the three-year programme aims to support aspiring developers from majority Black-owned and designated groups by providing non-financial support and facilitating project sustainability through skills transfer and built industry technical assistance.
The Minister noted that the human settlement sector is currently beset with a myriad of challenges of blocked projects abandoned by contractors and developers, with capacity to manage projects, and access to finance being among the few contributing factors to these challenges.
The introduction of the initiative is to ensure an increased delivery of housing units within the sector; grow the participation of aspiring developers in the housing value chain, with an added focus on designated groups (women, youth and people with disability), and ease access to funding from the NHFC and from other financiers.
Monitoring
The Minister also assured that the launch of the programme is not a rhetorical statement.
“We are not here for a talk-shop, we must be intentional and deliberate in driving transformation and in empowering the mentioned designated groups. At the core of the programme is capacity building, which ensures that emerging developers gain essential skills to manage and deliver successful projects.
“The incubator offers hands-on on and off-site support throughout the project lifecycle, from feasibility studies to financial modelling and compliance with statutory regulations, as well as construction monitoring. We are doing away with the tendency of launching projects of this magnitude and design without post-project monitoring and evaluation to measure impact and success.”
She emphasised that a key risk mitigation strategy embedded within the programme is the post-investment technical monitoring function, which ensures that the projects maintain quality and efficiency standards, while developers receive ongoing oversight and advisory services.
The NHFC will collaborate closely with the appointed incubator service provider experienced in contractor and developer support, ensuring adherence to industry best practices and skills transfer to the NHFC itself.
“This Emerging Developer Incubator Programme is designed not only to provide immediate support, but to cultivate a new generation of capable and self-sustaining developers who will contribute meaningfully to the housing sector.
“By aligning with best practices and leveraging past lessons, the department and the NHFC are setting the stage for long-term transformation and economic inclusion,” Simelane said. – SAnews.gov.za
GabiK
Fri, 03/28/2025 - 14:13
87 views
Billions in Investment Opportunities Presented by Premier Invest
Financial services provider Premier Invest has announced a series of investment opportunities in the African energy and oil and gas sectors. covering a range of four energy projects across Benin, Zambia and South Africa and five oil and gas projects across Nigeria and Ghana, as well as Guyana.
The announcement was made on March 26 by Rene Awambeng, Founder and Managing Partner of Premier Invest during a dedicated deal-room session – Showcasing Upstream Oil and Gas Transactions in Africa – at the inaugural Congo Energy & Investment Forum (CEIF) in Brazzaville.
“The deal-room sessions on the sidelines of the Congo Energy & Investment Forum are an opportunity to provide a platform for sponsors, developers and project promoters to showcase significant upstream, midstream, downstream and power transactions in Africa to potential investors,” stated Awambeng.
The first opportunity, a 43 MW clean gas project in Benin, is seeking $84 billion in project finance. Currently in the commercial close stage of development, the project will help reduce the cost of energy in the country while bolstering economic growth, job creation and improving Benin's energy security.
Meanwhile, Zambia features a $92 million investment opportunity in a 71 MW hybrid solar PV and wind project. The project will feature a power purchase agreement over a period of 25 years and is estimated to feature an annual production of 232 GWh per year.
In South Africa, a 100 MW solar PV project has an $87 million investment opportunity. The project will feature an offtake agreement with the National Energy Regulator of South Africa and a power purchase agreement of 20 years. The project will boast an annual production rate of 195 GWh per year.
Concluding the energy investment opportunities South Africa is also seeking $100 million in investment to finance a 100 MW clean-gas project to complement intermittent renewable energy sources, such as solar and wind, while offering a cleaner solution to the country's reliance on coal. The project features a proposed capital structure of 70:30 and is in the active implementation stage.
In the oil and gas sector, gas producing company NESGAS is seeking $200 million in financing for the development of an LPG bulk storage facility in the Oil & Gas Free Zone in Nigeria. Phase 1 of the project will feature a commitment of $140 million to develop inland facilities, pipelines and site works while the second phase will feature an investment of $60 million focusing on engineering, procurement and construction contracts for tanks, instrumentation and commissioning.
Meanwhile, a state-of-the-art gas-to-liquids plant – the details of which are subject to a non-disclosure agreement – is seeking interested parties to participate in an upcoming formal investment process. The project will have a validated production capacity of 1,850 barrels of oil per day and will feature an earnings before interest, taxes, depreciation and amortization measure of approximately $50 million.
Ghana is seeking $759 million in financing to develop four offshore production wells. Financing will be used to develop tie-back infrastructure to existing FPSO infrastructure, targeting 57.8 million standard barrels of oil. The project aims to produce 5 million barrels of oil per year, with potential investors set to receive 84% of the total project net present value.
An indigenous oil development company in Nigeria is seeking an experienced management team to invest $18 million to drill additional wells and increase production at a field with a projected production rate of 2,300 barrels per day. The field area covers 46km2 and is covered by 3D seismic surveys.
Finally, Awambeng also announced a $25 million investment opportunity in Guyana. The project will be adjacent to one of the most productive offshore oil fields in the region and boasts recoverable reserves of approximately 400 million barrels. Investment will be used to support conventional offshore drilling and FPSO tie-up.
The companies involved in the investment opportunities will be disclosed upon inquiry, with financing options subject to non-disclosure agreements.
The inaugural Congo Energy & Investment Forum, taking place March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.
Distributed by APO Group on behalf of Energy Capital & Power.
R2m to address eThekwini water challenges
R2m to address eThekwini water challenges
The eThekwini Municipality has approved the transfer of R2 million within the water and sanitation capital budget in the 2024/25 financial year to address persistent water challenges affecting various areas in the northern parts of the city, particularly Verulam and surrounding areas.
The decision was taken during the City’s Executive Committee (EXCO) meeting on Tuesday.
In a statement after the meeting, the council said the funds will be transferred from the Pinkney Park project to the 'Hazelmere to Grange' Reservoir pipeline project.
The Pinkney Park project has been delayed by the Bid Evaluation Committee due to insufficient funding in the current approved 2024/25 and 2025/26 financial years.
The municipality said the Hazelmere to Grange Reservoir pipeline project is an ongoing project that urgently requires an additional R2 million in funding to complete it in the current financial year.
“Work has stopped on site due to funds having been exhausted for the Hazelmere to Grange Reservoir pipeline project. The additional allocation to complete the project will ensure much needed relief to the communities in the northern parts of the city, who have been experiencing water shortages,” the council said.
It said the water challenges have been further worsened by the recurring flood disasters that have battered the KwaZulu-Natal city in recent years.
R3 million approved for oThongathi crematorium
The Executive Committee also approved an additional R3 million for the urgent replacement of the furnace at the oThongathi Crematorium.
This follows the initial allocation of R5 million in the city’s adjustment budget, bringing the total investment to R8 million.
eThekwini Mayor Cyril Xaba said the decision by EXCO emphasises the city’s commitment to ensuring that residents of the northern region have access to cremation services.
“We are pleased that EXCO has responded swiftly to this urgent matter. The failure of the furnace has left many families without access to cremation services in the area. This funding will allow us to expedite the process and restore this essential service,” Xaba said.
The existing cremator, which has been in use for many years, suffered repeated breakdowns before completely failing on 24 January 2025. Technical assessments confirmed that the furnace had reached the end of its lifespan, necessitating full replacement.
To fast-track the project, Xaba said the Parks, Recreation and Culture Unit has identified savings within its capital budget to cover the R3 million shortfall.
He said the municipality will now proceed with appointing a service provider to manufacture, construct, and install the new furnace.
The contractor, who must be South African-based, will also provide maintenance support for 12-months under warranty, with a potential extension for two years.
Xaba reiterated the city’s commitment to delivering dignified and efficient services.
“We understand the cultural and religious significance of cremation for many communities. The urgent reprioritisation of funds demonstrates our dedication to ensuring that all residents have access to essential municipal services,” the mayor said.
He said the city will continue to provide updates to residents as the project progresses, with the aim of restoring full operations at the crematorium within the current financial year. – SAnews.gov.za
GabiK
Wed, 03/26/2025 - 10:16
14 views
CEIF: CLG Workshop Offers Insight into Congo’s Legal Framework
Pan-African legal firm CLG – formerly Centurion Law Group – led a workshop during the inaugural Congo Energy & Investment Forum (CEIF) on the country's legal and fiscal frameworks. The workshop – Mastering Business in Congo: Challenges and Strategic Solutions for Success – delved into strategies investors can deploy to navigate the Republic of Congo's business environment as the country prepares to launch an international licensing round.
As a leading provider of specialized legal and tax advisory services, CLG – a Legal Partner of CEIF 2025 - caters to a diverse portfolio of multinational energy companies. With offices in the Republic of Congo, Germany, South Africa, Nigeria, Mauritius, Ghana, Cameroon, Equatorial Guinea, Namibia and South Sudan, the firm delivers bespoke solutions for a variety of challenges faced by oil and gas companies. The CLG workshop underscored how the firm's expertise can support oil and gas projects in the Republic of Congo as the country targets 500,000 barrels per day of oil.
“Our goal is to provide solutions by interpreting regulations, ensuring companies can operate freely. We have advisors across several African countries,” stated Zion Adeoye, CEO and Group Managing Partner, CLG.
The country's strong Central African presence and deep knowledge of the associated legal frameworks gives it an edge in the region's energy landscape. According to Yves Ollivier, Managing Director, CLG Congo, the firm's services in the region include M&A transactions, due diligence, legal secretariat services for oil and gas companies and expertise in intellectual property and immigration laws.
“We provide legal opinions in various fields, including employment law, corporate structuring and contract negotiations,” he explained.
In addition to these services, CLG has strong expertise in taxation. Daoudou Mohammad, Director: Tax and Legal, CLG Congo, explained that the firm assists companies with tax compliance, fiscal advisory services and global tax audits. “We conduct comprehensive tax reviews and offer targeted training upon request,” he said.
For the Republic of Congo, these services will play a key role in facilitating investment, advancing projects and realizing the country's energy production goals. Given the complexity of the oil and gas sector, understanding the potential challenges associated with the industry is vital.
Oneyka Cindy Ojogbo, Deputy Managing Director & Partner, CLG, explained that, “Understanding all contractual details is crucial, especially in the gas sector. We have encountered cases where disputes arose due to poorly negotiated agreements. Anticipating potential legal issues is key to mitigating risks.”
Additional challenges include misunderstanding of the requisite taxation laws. Mohammad pointed out that many companies fail to consider available tax exemptions, leading to missed opportunities for fiscal optimization. “A thorough assessment of tax incentives can significantly reduce financial burdens. Companies should proactively evaluate their eligibility for exemptions,” he advised.
Distributed by APO Group on behalf of Energy Capital & Power.
The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.
Trinasolar Tackles South Africa’s Power Crisis
Trinasolar (www.Trinasolar.com), a global leader in smart PV and energy storage solutions, is proud to announce its participation in the Solar & Storage Live Africa exhibition, taking place at Nasrec, Johannesburg, from 25-27 March 2025. As South Africa grapples with an ongoing energy crisis, Trinasolar is positioning itself as a strategic solution provider, offering cutting-edge technology that supports the transition to a decentralised, resilient energy system.
South Africa's recent return to Stage 3 load shedding highlights the ongoing need for reliable and sustainable energy solutions. Trinasolar's advanced portfolio of high-quality photovoltaic modules and energy storage systems are designed to innovatively address the country's energy challenges effectively.
Vincent Wu, Global Sales Vice President and MEA MU Head at Trinasolar, commented on this role, saying: “As the energy crisis continues to challenge South Africa and the broader African region, Trinasolar is committed to delivering solutions that address these challenges. Our advanced PV modules and energy storage systems are designed to enable the region's shift to more resilient and decentralised energy infrastructure. At Solar & Storage Live Africa, we're excited to showcase our leading-edge technology that not only meets the immediate energy needs but also positions South Africa on a path toward a greener, more sustainable future.”
Trinasolar's long-standing presence in South Africa reflects its dedication to providing high-quality and cost-effective solar solutions that support the country's renewable energy ambitions. Trinasolar's Vertex modules are deployed in major utility-scale projects such as the 135MW Merak 1 Project, the 283MWdc Mooi Plaats Photovoltaic Power Plant, and the 195MW Springbok Utility Project, showcasing the company's ability to deliver large-scale, high-impact renewable energy solutions that drive the transition to a more sustainable energy landscape.
“Trinasolar has been part of the South African energy landscape for over a decade, and our local investments are paying off,” says Zaheer Khan, Regional Director for South Africa. “We have emerged as the largest solar equipment supplier in the country, with nearly a gigawatt of solar modules and 250MW of solar trackers delivered to local markets over the past year. Our focus remains on offering high-quality, cost-effective solutions to help South Africa address its energy crisis and move towards a more sustainable future.”
Key highlights:
Trinasolar's portfolio includes a range of high-performance products designed to meet the diverse energy needs of the South African and broader African markets. At Solar & Storage Live Africa, Trinasolar will spotlight two new product launches in South Africa:
- Bifacial Vertex N 630W (NED19RC.20): Featuring advanced N-type i-TOPCon technology with 23.3% module efficiency, this module certified with Fire Rating Class A+A and 55mm hail resistance. Besides, it has high resistance against salt, ammonia, sand, PID, LID, LeTID, which means high sustainability in harsh environments and extreme weather conditions.
- Anti-Dust Mono Facial Golden Size Module - 630W (NE19R.70): with impressive 23.3% efficiency, the module is optimized for installation with low angle and features a patented frame designed to minimize dust accumulation, ensuring consistent high performance even in the harshest environments.
These will be shown along with its flagship modules, including
- Vertex N 720W (NEG21C.20): with 23.2% efficiency, the module reduces BOS and LCOE costs by 2-6%. Built on the 210mm i-TOPCon platform, it ensures high reliability with a 30-year power guarantee. Its dual-glass design and advanced technology maximize energy yield while withstanding harsh conditions.
- Vertex S+ 460W (NEG9R.28): Designed for residential and C&I rooftops, it features a perfect size with low weight, and up to 23.0% efficiency on the 210mm i-TOPCon platform. Its dual-glass structure ensures durability with up to 25 years product and 30 years power warranty, offering superior resistance to harsh conditions.
In addition to its PV modules, Trinasolar will showcase the TrinaStorage Elementa 2 Pro – 5MWh Energy Storage System (ESS), a next-generation solution engineered for South Africa's high temperatures, high humidity, and grid instability. Designed for long-term reliability, Elementa 2 Pro features intelligent hybrid cooling, C5 anti-corrosion certification, and advanced fire suppression technology. Powered by Trinasolar's self-developed 314Ah high-performance battery cells, the system delivers a 15,000-cycle lifespan, reducing lifecycle costs and maximizing efficiency. With low-noise operation suited for suburban projects and compliance with environmentally friendly design standards, Elementa 2 Pro reinforces TrinaStorage's leadership in resilient, high-performance energy storage solutions tailored to regional needs.
Trinasolar's continued expansion and innovation in South Africa underline its commitment to supporting the country's renewable energy transition. By offering state-of-the-art solar and storage solutions, the company is not only helping to alleviate the power crisis but also paving the way for a cleaner and more energy-secure future.
Distributed by APO Group on behalf of Trinasolar.
About Trinasolar (688599. SH):
Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future.
On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit www.Trinasolar.com.
Housing Project Grinds to a Halt Over Payment Dispute
Contractor is taking Matatiele Local Municipality to court over unpaid fees