March 12, 2010 / 9:18 AM / 10 years ago

SAfrica says can't meet power needs without loan

PRETORIA, March 12 (Reuters) - South Africa will be unable to meet its power supply requirements if its application for a $3.75 billion loan from the World Bank is not approved, Energy Minister Dipuo Peters said on Friday.

South Africa’s state-owned utility Eskom [ESCJ.UL] is seeking the loan, intended to help expand power generation capacity to meet fast-rising demand in Africa’s biggest economy.

“Without the World Bank loan, South Africa will not be able to meet its energy commitments,” Energy Minister Dipuo Peters told a media briefing.

A senior official in Peters’ department told Reuters on Thursday the country may enforce power cuts or raise electricity tariffs further if it fails to secure the loan. [ID:nLDE62A2K5] (Reporting by Muchena Zigomo; Writing by James Macharia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below