Germany will lend South Africa €500m for energy switch

Germany, through its KfW development bank, will as soon as Friday sign an agreement to lend South Africa €500-million ($543-million) to help it transition away from the use of coal-fired electricity, people with knowledge of the pact said. The money forms part of the $8.8-billion in climate financing offered to South Africa by some of the world’s richest nations in a 2021 agreement known as the Just Energy Transition Partnership, the people said, asking not to be identified as the information isn’t public yet.
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Gas-supply cliff is South Africa’s next crisis, energy body says

South Africa’s supply of natural gas is set to plunge within the next three to four years and there’s a risk of a shortfall triggering the country’s next economic crisis, the head of an industry body warned. With Sasol set to curb production of the fuel from its fields in Mozambique between 2026 and 2027 as reserves dwindle and retain more output for its own operations, 300 000 to 400 000 jobs at firms that use gas for industrial purposes are endangered, said James Mackay, the chief executive officer of the Energy Council of South Africa.
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