World Bank Group considers $500m boost for South Africa’s transmission expansion

The World Bank Group is considering financing $500-million of South Africa’s participation in a new credit guarantee facility meant to unlock private financing for a massive transmission grid expansion plan, a senior bank official told Reuters. South Africa is courting private investment for an ambitious plan to add 14 500 km of new lines and enhanced transformer capacity over the next decade, at an estimated total cost of $25-billion, as it looks to emerge from a decade of crippling power cuts that have battered the economy.