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SMME Support as of July 2020

What the Renewable Energy (IPP) Projects have contributed to the Small Medium Micro Enterprises in South Africa

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The purpose of this presentation is to provide the information on what the Renewable Energy (IPP) Projects have contributed to the Small Medium Micro Enterprises in South Africa.

AFRICOAST ENGINEERS SA ESTABLISHES RENEWABLE ENERGY COMPANY

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Renewable energy engineering firm AfiCoast Engineers SA has announced that a new company,
AfriCoast Energy, will now be responsible for all future renewable energy projects - particulary
wind and solar - while it will also play a key role in guiding AfriCoast Engineers' current
basket of renewable energy projects.
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Industry News

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South African banks raise $322m in debut rescue-debt issue

South Africa’s biggest lenders raised $322-million in new loss-absorbing debt to comply with a central bank framework designed to ensure failing financial institutions can be recapitalised without taxpayer bailouts. Absa Group Ltd. raised R3.2-billion through the new instruments that are known as funding for loss-absorbing capacity, or FLAC, notes, the lender said in a statement Friday. They’re linked to Zaronia, the reference rate for short-term financial contracts that the central bank is introducing to replace the Johannesburg interbank average rate by year-end. Investor demand exceeded expectations. Against a target of R3-billion, the auction drew R8.41-billion in bids, with the notes 2.65 times oversubscribed, Absa Treasurer Richard Klotnick said in the statement.

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