Updates on South Africa’s Energy Investments

Updated on 10 March 2016

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An update of South Africa’s future energy investments was presented by the Economic Sectors, Employment and Infrastructure Development cluster on 8 March.

The cluster is chaired by Rural Development and Land Reform Minister Gugile Nkwinti. It outlines progress made to stabilise electricity supply, which is a crucial resource to keep industry and business powered.

Progress such as an Eskom maintenance programme, the restoration of the Duvha unit, the connection of Medupi unit 6 and a programme to encourage customers to use electricity sparingly, was reported. Nkwinti emphasised that there had been no load shedding since September 2015.

The expansion of the nuclear programme remained part of South Africa’s future energy mix, according to the cluster.

The update noted that the South African government had invested R83 billion in Eskom, including an R60 billion converted guarantee that was now a grant. Additionally, R23 billion was secured from the sale of the government’s Vodacom shares that would now be used to continue investing in the Medupi and Kusile power stations. (Southafrica.info)

Ashburton Investments launches private equity fund
Ashburton Investments, an asset manager has launched a R500 million private equity fund, a first for the company. The fund will invest in every sector except agriculture, resources, venture capital, and property, reports BDLive.

The Ashburton Private Equity Fund 1, which is a fund of other private equity funds that invest in unlisted companies, is now closed to new investments.

Juan Coetzer, head of private equity at the FirstRand subsidiary, told the publication that each investor was required to put in R10 million to participate in the fund.

“The size is similar to another private equity fund of funds in SA,” he said. “The private equity industry in SA, although highly developed, is relatively small.”

Crowdfunding platform launches initiative to help female innovators crowdfund a gadget
Indiegogo, one of the largest global sites for fundraisers has launched an initiative aimed at helping women entrepreneurs in the technology industry. The crowdfunding site launched a program to push women-run campaigns between now and March 2017.

Together with organizations like Girls in Tech and Blooming Founders, Indiegogo wants to help novice creators get their projects onto the site.

Participants will also receive “additional campaign mentoring” from Indiegogo staffers. (Engadget)

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