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Africa|Energy|Financial|Infrastructure|Renewable Energy|Renewable-Energy|Infrastructure
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africa|energy|financial|infrastructure|renewable-energy|renewable-energy-company|infrastructure

KfW approves R2.8bn Just Energy Transition Partnership concessional loan for Cape Town

27th February 2025

By: Terence Creamer

Creamer Media Editor

     

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German development bank KfW has approved a R2.8-billion concessional loan for the City of Cape Town, which will use the funding to strengthen its electricity infrastructure and integrate renewable-energy supply.

The loan conditions were not disclosed, but the financial terms were described as “favourable”, as well as supportive of South Africa’s just energy transition (JET).

Germany was one of the founding members of the international partners group that concluded an $8.5-billion JET Partnership with South Africa in 2021, which had since attracted $13.8-billion in pledges in the form of concessional loans and grants.

However, there is currently some uncertainty as to whether the US, which was also a founding participant, will honour its $1.06-billion pledge in light of the new administration’s review of all aid flows.

German Ambassador Andreas Peschke said Germany’s support of South Africa’s JET underlined the country’s commitment “to stand beside our partner in challenging times”.

Edited by Creamer Media Reporter

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