South Africa must unlock financial sector for growth, says African Development Bank – The Mail & Guardian

South Africa must unlock financial sector for growth, says African Development Bank – The Mail & Guardian

The African Development Bank (AfDB) says South Africa’s well-developed financial sector has the potential to be the continent’s powerhouse if structural constraints are addressed. “South Africa has a well-developed and large financial sector with an asset-to-GDP ratio of 88%, well above that of most emerging markets. The financial system consists of banking institutions, pension funds and a dynamic stock exchange,” the bank said in a recent repo…

African Development Bank’s Sustainable Energy Fund for Africa (SEFA) supports electric cooking expansion across three African nations

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB) (www.AfDB.org), is tackling charcoal dependence in Kenya, Uganda, and Zambia with a $4 million reimbursable grant. This grant will fund the Burn Electric Cooking Expansion Program (BEEP), deploying 115,000 Burn ECOA Electric Induction Cookers to provide clean cooking solutions for low-income, grid-connected households currently relying on charcoal. Burn…