Skip to main content

Four Seasons Before Lunch Gauteng (Pretoria)

-
 I have lived in Pretoria for half my life, but even at almost 50, l still am not ready for mornings like this . I step out of  home in the morning at 7 a.m., greeted by a warm, gentle breeze and sunshine so golden it felt like summer had arrived overnight. The sky was clear; the jacaranda trees glowed purple; the air smelled of warmth and possibility. “Perfect day,” l muttered, locking his door. By the time l drive out—five minutes later—the sky starts to be darkened. A cold wind came crawling in from nowhere, sweeping dust across the pavement. The temperature dropped so suddenly that  l have  to switch the heater for warmth. Laughing. “Ah, Pretoria… you never disappoint.” Halfway to the office, the heavens opened. Not soft rain— a storm . Sheets of water hammered the road, street gutters overflowed instantly, and distant thunder rolled like a grumpy giant waking up too early. People scattered, hiding under bus shelters already too full.  “Ten minutes ago...
Post a Comment

Mozambique to sell majority stake in $2.4bn hydropower dam

-

 That will be one of the biggest in southern Africa, according to Carlos Yum, the director in charge of the project.

Image: John Wessels/AFP/Getty Images

Mozambique plans to sell a majority stake in the planned $2.4 billion Mphanda Nkuwa hydropower dam that will be one of the biggest in southern Africa, according to Carlos Yum, the director in charge of the project.

The government will issue a request for proposals this year, and will take up to four months to select the winner and another six weeks to negotiate the joint development agreement, Yum said in a June 15 interview in Maputo, the capital. The goal is to reach financial close by 2024 on the 1,500-megawatt facility and an associated transmission line that could increase the total project cost to as much as $4.4 billion, he said.

Moneyweb Insider INSIDERGOLD

Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.

Click here for more information.

Mphanda Nkuwa will be about 60 kilometers (37 miles) downstream the Zambezi River from the Cahora Bassa hydropower dam that has the capacity to generate 2,075 megawatts of power. Mozambique sells most of the electricity from that dam to neighbouring South Africa, where there have been shortages for more than a decade.

In addition to exporting power, the new project will sell electricity to Mozambicans, said Yum. About one-third of Mozambicans have access to power, and President Filipe Nyusi plans to increase this to 100% by the end of the decade.

The dam will be Mozambique’s latest multi-billion dollar energy project. TotalEnergies SE is developing a $20 billion plan to export liquefied natural gas from sub-sea reserves in the far north of the country, though the project stalled this year because of an insurgency linked to Islamic State. The violence is almost 1,000 kilometers away from Mphanda Nkuwa’s planned site.

The shareholding structure for the new project will include state-controlled Hidroelectrica de Cahora Bassa, which owns the existing hydropower plant upstream, and electricity utility Electricidade de Moçambique EP. While selling a majority equity stake in the new dam will raise part of the funding, the government will also seek financing from multilateral and bilateral lenders, as well as commercial banks, Yum said.

The new equity investor should already own and operate similar projects of comparable size, he said.

© 2021 Bloomberg
 Tweet

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

Comments

Post a Comment

Popular posts from this blog

MultiChoice’s BEE scheme trying to find 22 000 shareholders who are missing out on millions

-
Image
  USINESS REPORT COMPANIES MultiChoice’s black economic empowerment scheme is looking for about 22 000 shareholders who owned shares and did not receive dividends of R207 million between 2006 and 2020. Picture: Karen Sandison/African News Agency(ANA) MultiChoice’s BEE scheme trying to find 22 000 shareholders who are missing out on millions By Edward West   Feb 16, 2021 CAPE TOWN - PHUTUMA Nathi, the MultiChoice black economic empowerment scheme of more than 80 000 shareholders, is looking for about 22 000 shareholders who owned shares and did not receive dividends of R207 million between 2006 and 2020. “This money belongs to our shareholders. We’re calling on them to contact us to get their money. In these tough economic times we want to do everything in our power to give them what is rightfully theirs,” Phuthuma Nathi chairperson Mandla Langa said in a statement yesterday. Phuthuma Nathi has been paying dividends every year since the start of the scheme in 2006. Am...
Read more

Fighting Drug addiction

-
 Here's the story: We sat down with a man who had a harrowing journey with addiction. He began by telling us about his early days in tertiary education, where he would occasionally smoke dagga with friends. However, his focus remained on his studies, and he worked hard to graduate and secure a qualification. After landing a job, he started building a life for himself. He got married, bought a property, and even splurged on a car. Life was good, and he felt like he was on top of the world. But one fateful night, while out with friends, he was introduced to heavier narcotics. At first, the experience was exhilarating. He described it as an elevation from the mild high of dagga to a level 5 high, where he felt invincible and euphoric. The effects would last for days, allowing him to party from Friday to Sunday without sleep. The problem, however, began to manifest on Mondays and Tuesdays every week, when the withdrawal symptoms would kick in, and he'd struggle to function at work....
Read more

Ultra-Widebody Volkswagen Bus "Volkswide" Looks Like a Porsche Racing Van

-
Image
  Home   >   News   >   Renderings It's easy to understand why a muscle car or a Ferrari is cool - the big engine and cool body. But car culture is also influenced by television, rarity, or simply a generation growing up with a particular vehicle. The Volkswagen Bus is a perfect example of this because it's slow, not sporty-looking, yet it can cost a lot of money.  16 photos The Bus is perhaps one of the least understood collectibles, right up there with bubble cars. You see them grabbing huge money at auctions, making it difficult to visualize why somebody wouldn't rather have a Ferrari or some 1960s Mustang. Comedian Gabriel Iglesias is known as the VW Bus King, as his collection of Vdubs is reportedly worth in excess of $3 million. The Hoonigan crew recently did a feature video, but we still had trouble picturing the value of these vehicles. Fortunately, there's a set of renderings that takes the visuals of the Microbus to the level where everybody...
Read more