UK May Extend Unused $1bn Guarantee For South Africa

The United Kingdom is in talks to extend a $1 billion debt guarantee for South Africa that is due to expire at the end of 2025 unused. Approved in late 2023, it backs a planned African Development Bank loan for municipal energy and water projects in Mpumalanga.

Talks come as part of the $8.3 billion Just Energy Transition Partnership, aimed at helping South Africa shift away from coal while upgrading failing local infrastructure.