By the AFREEQUE newsroom, based on Moneyweb
Illustrative image · Khaya Motsa · Pexels · Licence PexelsGlobal off-grid solar development would require $11.4 billion in investment, including about $1.3 billion a year in grants and subsidies. Financing would also need to mobilise $1.6 billion annually in equity, debt and receivables, according to a World Bank report cited by Moneyweb.
Binance says it has mobilised more than $6.34 billion in company funds to replace 90% of the tokens stolen in a hack that caused $6.3 billion in losses. The platform, which attributes the remaining delay to the low liquidity of some assets, expects withdrawals to resume on Sunday, according to Vanguard.
🌍 World · Source: Vanguard ·
The Zimbabwean government is targeting up to US$1 billion to rehabilitate roads, using revenue from the national roads administration as collateral with financial institutions. Transport Minister Felix Mhona described the mechanism as a way to mobilise more funding for infrastructure, according to Daily News.
🇿🇼 Zimbabwe · Source: Daily News (Zimbabwe) ·
South African Electricity Minister Kgosientsho Ramokgopa estimates that transferring Eskom’s electricity grid to an independent operator will cost between 80 billion and 130 billion rand. Funding mechanisms and the transfer of assets at fair value are being defined, according to SABC News.
🇿🇦 South Africa · Source: SABC News ·
The Mozambican government has approved extending Kenmare Resources’ agreement to process and export heavy mineral sands from Moma, Nampula province, until 2044. Royalties will rise in stages to 5%, while the company plans to invest at least $200 million and allocate $50 million to social projects, according to Carta de Moçambique, citing Miningmx.
🇲🇿 Mozambique · Source: Carta de Moçambique ·
Trump grants visa to mother of Ghanaian teenager killed in New YorkDonald Trump has agreed to immediately grant a visa to Doris Gyamfi, the Ghanaian mother of Javits Frimpong, a 15-year-old teenager shot dead in New York. The authorisation is intended to allow her to travel to the United States to see her son’s body, New York Mayor Zohran Mamdani announced, according to Punch.
Zimbabwe negotiates framework to clear debt arrearsThe Zimbabwean government is stepping up negotiations with international creditors to establish a sustainable framework for clearing arrears and regain access to affordable financing. Finance Minister Mthuli Ncube says restructuring some debts has progressed, according to the Daily News.The week in Africa
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