World Bank warns of extreme poverty setback as South Africa is buffeted by Covid

The World Bank expects the South African economy to recover by 3.3% in 2021 and return to a “near potential pace” of 1.7% in 2022 after contracting by an estimated 7.8% during Covid-afflicted 2020. However, it warns in its flagship Global Economic Prospects report, published on Tuesday, that the pandemic has precipitated a dramatic fall in per capita income, which has pushed tens of million more people in South Africa and the rest of Sub-Saharan Africa into extreme poverty.
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Tembo Power appoints new financial structuring MD

Africa-focused hydropower developer Tembo Power Holdings (TPH), formerly Tembo Power Limited, has appointed Jacques Barouhiel to lead its financial structuring business as MD.

TPH is an independent power producer (IPP) with a focus on small hydropower in sub-Saharan Africa. It holds rights over 13 projects across Kenya, the Democratic Republic of Congo, Burundi and Cameroon, for a total installed capacity of about 300 MW.

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Scatec launches new logo, profile

Power plant company Scatec has launched its new logo and profile, with this transformation following the company’s broadened growth strategy and the name change to Scatec from Scatec Solar. “2020 was a monumental year for Scatec. During the crisis, we made the greatest expansion since our establishment, by broadening our strategy and acquiring SN Power. I am, therefore, pleased to start the new year by unveiling a profile and logo supporting our ambition to become a global large-scale player in solar, hydro, wind and storage solutions, and an integrator of high-value infrastructure solutions,” says CEO Raymond Carlsen.
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