The World Bank has greenlit a USD 1.5 bn loan to revitalize South Africa ’s infrastructure, Bloomberg reports. The funds aim to alleviate the nation’s low growth and high unemployment rate — standing at roughly 33% — by addressing bottlenecks in the energy and freight sectors. South Africa’s state-owned Eskom Holdings will utilize the funds to shore up the local renewable energy output, whereas Transnet will increase freight transport capacity.

South Africa has been courting private industry players to help revamp its ailing ports, which have been dragged down by allegations of corruption and poor performance. Transnet ports rank among the least efficient in the world, undermining the country’s coal and iron-ore exports, Bloomberg reports, citing World Bank and S&P Global Market Intelligence data.

REMEMBER- Saudi players are interested in the country’s logistics sector: The Red Sea Gateway Terminal International (RSGTI) was reported to be eying a potential bid to develop and operate a fresh produce terminal at South Africa’s Durban port, as well as another port in Cape Town. RSGTI is reportedly looking at a USD 600 mn investment push.

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