South Africa has signed a memorandum of understanding (MoU) with the New Development Bank (NDB) to attract greater investment and accelerate the country’s economic growth.
The NDB has already invested roughly one billion US dollars in South Africa’s energy sector through Eskom and other development institutions. The new MoU signals an expansion of the bank’s involvement across several strategic areas of the economy.
Ashwani Muthoo, Director-General of the NDB’s Independent Evaluation Office, said the agreement will pave the way for additional funding aimed at improving infrastructure, strengthening energy security, and unlocking long-term economic opportunities.
“This MoU is an important step in strengthening our partnership with South Africa. We are committed to supporting projects that make a real difference to the country,” Muthoo said.
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