As Africa battles the economic crisis brought about by the Covid-19 pandemic, the value of impact investing has been further uncovered. Impact investments are investments made with the intention of generating positive and measurable social and environmental impact as well as a financial return. They have steadily gained traction across Africa in the renewable energy, housing, healthcare, small, medium and micro-enterprise (SMME) finance, agriculture and education sectors.
The pandemic has forced a creative rethink around social investments, especially as social businesses are often thrust into the role of first responders and have been able to demonstrate the value of their approaches.
Eskom Holdings SOC Ltd., the beleaguered South African state power utility, reduced its debt by almost a fifth after repaying matured loans and benefiting from a more favorable exchange rate, Public Enterprises Minister Pravin Gordhan said.
Finance Minister Tito Mboweni said the creation of a state bank in South Africa was a serious matter that was central to the country’s developmental agenda.
Eskom debt solution remains a ‘work in progress’ despite reduction to R401bn
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Sponsored by 25th May 2021
Public Enterprises Minister
Pravin Gordhan reported on Tuesday that, while Eskom was able to reduce its debt by R83-billion, from R484-billion to R401-billion, during the 2021 financial year, efforts to find a lasting solution to the State-owned utility’s unsustainable debt remained a “work in progress”.
Absa to sell asset management unit to Sanlam?
By Banele Ginindza
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JOHANNESBURG - A DEAL by South Africa s banking conglomerate Absa to offload its Asset Management Unit to Sanlam hinted at this week could create a R900 billion mammoth to chafe the heels of the Public Investment Corporation.
There were no confirmations of the deal by either parties this week but analysis pondered whether the offering would also include the lucrative Money Market Fund.
Absa had by the end of last year about R270 billion under the management of its Asset Management wing.
Absa is reported to be mulling the decision, citing risk to its business due to clients belief its investments “held the same degree of safety as cash in a savings account”.