Latest news with #DevelopmentBankofSouthernAfrica
Zawya
4 days ago
- Business
- Zawya
Africa Investment Forum Partners Sign Partnership Framework Agreement at African Bank Development Bank Group's 2025 Annual Meetings
On the sidelines of the African Development Bank Annual Meetings ( founding partners of the Africa Investment Forum signed a Partnership Framework Agreement, reinforcing their collective commitment to mobilize transformative investments across the African continent. The new framework creates a clearer partnership model that sets out the roles and benefits for the founding partners. It also opens the door for expansion to new partners, ensuring everyone benefits while increasing the Forum's overall impact. Launched in 2018, the Africa Investment Forum platform has solidified its standing as Africa's premier investment marketplace for global investors and has garnered nearly $225 billion in investment interest to date. Principals of the African Development Bank Group, Africa50, Africa Finance Corporation, Development Bank of Southern Africa (DBSA) and Arab Bank for Economic Development in Africa (BADEA) signed the agreement. The other partners are Trade and Development Bank, European Investment Bank, Islamic Development Bank and Afreximbank. Speaking at the signing ceremony, President of the African Development Bank Group and chairperson of the Africa Investment Forum, Dr. Akinwumi A. Adesina said: "This agreement is a testament to our shared vision: that Africa will not be developed by aid, but by investment. The AIF has changed perceptions and proven that Africa is indeed a bankable destination." Dr Fahad Abdullah Aldossari, Chairman of BADEA's Board of Directors said: 'The signing of the AIF Framework Agreement marks a remarkable milestone to ascertain both effectiveness and efficiency as well as financial sustainability for AIF 2.0 in a bid to advance more projects to bankability and crowd-in transformative investments to the continent.' Alain Ebobissé, CEO of Africa 50 said: 'This signature marks our renewed commitment to support the objectives of the Africa Investment Forum, launched under the visionary leadership of President Adesina. It is a much-needed deal-making platform that helps strengthen collaborations and leverage innovative models to unlock private capital to accelerate the delivery of bankable projects on the continent. It is critical for African Institutions to support it'. 'As a Founding Partner, we are proud to see this initiative formally take shape. Through AIF, we've proven what Africa can achieve when we collaborate — building the continent's first investment platform that truly mobilizes capital for bankable, high-impact projects,' said Samaila Zubairu, President and CEO of Africa Finance Corporation. "We have to continue leveraging the AIF as a platform for capital mobilisation in Africa, to bridge the infrastructure funding gap in the continent," said DBSA's CEO Boitumelo Mosako. The signing of the Partnership Framework Agreement takes place ahead of what is expected to be an expanded and impactful Market Days 2025, to be held from 26 to 28 November 2025 in Rabat, Morocco. Market Days, the centerpiece of the Africa Investment Forum platform, brings together investors, deal sponsors and heads of government to advance transformational African projects toward financial close. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
TimesLIVE
26-05-2025
- Automotive
- TimesLIVE
DBSA is investing R100m in EV charging stations
Zero Carbon Charge (Charge) has installed a national network of off-grid, solar-powered and fast electric vehicle (EV) charging stations in South Africa. The company has announced a R100m equity investment from the Development Bank of Southern Africa (DBSA). The funding will enable the rollout of charging stations every 150km along national roads. Each site is fully off-grid, powered by solar energy and supported by battery storage. The company's first off-grid EV charging station opened in Wolmaransstad in the North West in November. The station boasts up to six DC fast-charging points for EVs and two AC charging points for plug-in hybrid vehicles. The DC fast-chargers with hardware provided by Chinese technology partners Greencore Energy Solutions and Magic Power are claimed to charge an EV in about 25 minutes. A total of 120 solar-powered charging facilities will be rolled out at 150km intervals on national highways in 2025. The Cape-based company has developed an app for Android and iOS for transactions at its EV charging stations. Motorists will be able to enjoy a cup of coffee and a bite to eat at the farm stall located at the station. Landowners who allow Charge to install the charging stations receive 5% of annual electricity revenue.
IOL News
25-05-2025
- Business
- IOL News
New wealth fund proposed for KwaZulu-Natal to boost projects
KwaZulu-Natal Finance MEC, Francois Rodgers has said a new wealth fund will provide funding for those involved in projects that are public-private partnerships . Image: Supplied A new wealth fund has been proposed for KwaZulu-Natal, aimed at ensuring the availability of finance for key catalytic projects that have the capacity to create employment. The fund will primarily service projects that are partnerships between the government and the private sector and ensure they are completed on time and not hamstrung by financing. This wealth fund will provide those involved in the partnership with quicker funding and lower interest rates than those offered by commercial banks, potentially reducing the need to apply for project funding through the Development Bank of Southern Africa (DBSA). According to KZN Finance MEC Francois Rodgers, the wealth fund will not rely solely on government contributions as private entities will also contribute. He added that a bank has already committed to participating in the fund. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The establishment of the fund is one of several resolutions taken during a meeting between the government and the business community last week. The meeting had been called to brief the business community on the new regulations on Private Public Partnerships (PPP) that are set to come into effect next month. Other resolutions include the creation of a single-purpose vehicle designed to fast-track project approvals and ensure timely completion. 'This initiative is a huge step in ensuring that we undertake key projects, create economic growth, and generate job opportunities to grow the economy of this province,' said MEC Rodgers. 'On Friday, officials from the national treasury came to brief the business community on these changes to public-private partnerships (PPP). We had expected about 50 business people to attend, but over 100 attended,' added the MEC. He explained that the purpose of the new regulations is to facilitate easier and quicker formation of PPPs to deliver projects that could benefit even municipalities. 'You know that a PPP, due to the current regulations, could take up to five years to establish.' He said the new PPP regulations will attract private capital to public projects, providing financial benefits for private investors, as the project will remain under government ownership once completed. 'The fund will ensure that projects undertaken under the PPP framework have access to capital, which will be provided more quickly and at lower interest rates than those offered by commercial banks. This will be for catalytic projects; you cannot simply apply to this fund for a fast-food restaurant,' said Rodgers. He noted that the fund will differ from the current KZN Growth Coalition, as it will involve external funding sources, not just government contributions. Additionally, he added, it was agreed to also establish a single-purpose vehicle, overseen by the provincial treasury, to ensure that projects are approved promptly and, most importantly, are not delayed. 'The priority here is to trigger projects that will stimulate investment, create jobs, and grow the economy of the province,' said the MEC. However, economic expert Dawie Roodt expressed concerns about the fund. He said the primary task for the government is to create an environment where businesses can thrive. 'The role of the state is to provide essential services, such as safety, infrastructure, healthcare, and education, not to initiate various new projects. The government should focus on creating a friendly environment and allowing the private sector to take the lead.' THE MERCURY
IOL News
15-05-2025
- Business
- IOL News
Cabinet confirms Patrick Dlamini as new CEO of the Public Investment Corporation
Patrick Dlamini, has been appointed as the new CEO of the Public Investment Corporation (PIC). Image: Supplied Turnaround specialist and former CEO of the Development Bank of Southern Africa (DBSA), Patrick Dlamini, has been appointed as the new CEO of the Public Investment Corporation (PIC). This announcement follows a comprehensive seven-month global search initiated to identify a successor for the outgoing CEO, Abel Sithole, whosefive-year term is coming to an end as he is reaching retirement age. Minister in the Presidency, Khumbudzo Ntshavheni, on Thursday confirmed that Cabinet had approved Dlamini's appointment to head Africa's largest asset manager. The Cabinet approved Dlamini's appointment during its meeting on 14 May, concluding a notable selection process for the State-owned asset manager entrusted with managing more than R3 trillion in assets for various State entities. In October 2024, the board of directors of the PIC announced that it was embarking on an executive search for a new CEO to ensure a seamless leadership transition at the PIC. The board chairperson, Dr. David Masondo, expressed confidence in Dlamini's expertise and vision, emphasising the importance of strategic and ethical leadership in advancing the PIC's investment mandate. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Dlamini holds a Masters of Science in Global Finance from New York University and a Bachelor of Commerce in Accounting and Economics from the University of KwaZulu-Natal (formerly Durban-Westville). 'Mr. Dlamini brings to the PIC an exemplary record of strategic and ethical leadership, with nearly three decades of senior management experience in major corporations, including a decade as CEO of the Development Bank of Southern Africa (DBSA),' Masondo said. 'His expertise in leading complex turnarounds, fostering operational excellence and driving sustainable growth, positions him to advance the PIC's investment mandate.' Masondo said that, as a turnaround specialist at other State-owned entities with extensive experience in development finance and investment management, Dlamini will be expected to apply such expertise to address the immediate concerns that confront the PIC, specifically in its unlisted portfolio. The PIC is currently dealing with an ongoing crisis at one of its funded entities, Daybreak Foods, which is facing serious financial challenges and struggled to pay workers salaries for April while chickens at its various farms faced feed shortages. 'The board is confident that his principled commitment to corporate governance will strengthen our response to embed ethics, accountability and integrity across all PIC business functions whilst driving long-term growth and value in the investment portfolios of our clients,' he said. Masondo also extended the board's gratitude to Sithole, the outgoing CEO, and thanked him for his exceptional leadership. Sithole continues to have the full support of the PIC board and has committed to facilitate a seamless transition with his successor. Masondo said the board was expressing its profound appreciation to Sithole for his invaluable contribution to bring stability and restore ethical leadership to the PIC, particularly in the period following the work of the Mpati Commission of Inquiry. 'Mr. Sithole played a vital role in expanding the company's market presence and restoring credibility between the PIC, its clients, regulators and other stakeholders. He ensured that the recommendations of the Commission were implemented, that permanent appointments were made to crucial executive positions and that internal governance structures were reconfigured and strengthened, in line with the Commission's recommendations,' Masondo said. 'Under Mr. Sithole's leadership, assets under management, for the first time grew to over R3 trillion by September 2024, which is a remarkable achievement and benefit for all clients, their members and beneficiaries.' BUSINESS REPORT
Eyewitness News
12-05-2025
- Business
- Eyewitness News
Ramaphosa heads to Ivory Coast on working visit
CAPE TOWN - President Cyril Ramaphosa will head to the Ivory Coast on Monday on a working visit. During his visit, he hopes to consolidate South Africa's position as one of the leading investment destinations on the continent. Ramaphosa's visit is centred around the 12th edition of the Africa CEO Forum, which is taking place in the capital, Abidjan. The Presidency said part of Ramaphosa's visit will also strengthen existing bilateral relations between the two countries. This follows his last visit to the Ivory Coast in 2021 and a reciprocal visit by President Alassane Ouattara the following year. The Africa CEO Forum is the leading platform for heads of the continent's biggest multinational companies, investors and representatives of financial institutions. The event serves as a platform for high-level business meetings where new innovations are showcased, and business ideas are exchanged. This year's CEO forum seeks to promote closer cooperation between the private and public sectors in infrastructure and industrial development. Several South African companies have invested in the Ivory Coast, including MTN, the Development Bank of Southern Africa, Nedbank, Stanbic, Investec, Multichoice and Sanlam. Ramaphosa said South Africa's G20 presidency will further enhance the country's visibility at the forum. READ: Ramaphosa: SA to use G20 Presidency to encourage greater cooperation between world's leading economies The Department of Trade, along with Brand SA, will host an investment session on the sidelines of the forum. Ramaphosa will also be accompanied by the Ministers of Mineral and Petroleum Resources, Gwede Mantashe and the Electricity and Energy Minister, Kgosientsho Ramokgopa.
