By Levy Masiteng
South Africa has secured €300 million, about R5.6 billion, in concessional financing from Germany and France to help turn around struggling electricity, water and sanitation, and waste services across the country’s eight metros.
National Treasury made the announcement on Wednesday, saying the financing from Germany’s KfW Development Bank (€200 million) and €100 million from France’s Agence Française de Développement (AFD) would support the government’s Metro Trading Services Reform (MTSR) Programme.
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“The reform seeks to improve the financial and operational performance of those trading services and will ensure that revenues generated are reinvested into much-needed infrastructure to reduce outages and investment backlogs,” Treasury said.
The programme covers Buffalo City, Cape Town, Ekurhuleni, Johannesburg, Tshwane, eThekwini, Mangaung and Nelson Mandela Bay.
Collectively, the metros serve more than 22 million residents and account for about 85% of South Africa’s economic activity, according to
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