US investors with more than $1-trillion of assets under management are in South Africa to look for investment opportunities.
The visit being facilitated by USAID and Prosper Africa, the US government’s initiative to increase trade and investment between African nations and America, started Tuesday and will coincide with US Secretary of State Antony Blinken’s trip. Blinken arrives in the country Sunday — his second official trip to Africa. He will also visit the Democratic Republic of Congo and Rwanda.
South Africa, the world’s 13th-biggest source of greenhouse gases, will need to spend $250-billion over the next three decades to fund the closing down of coal-fired plants and development of replacement green energy such as wind and solar, according to a report released in May. The world’s richest nations at COP26 in Glasgow in November pledged just $8.5-billion in climate grants and concessional loans to the nation.
“There’s not enough public resources in donor budgets and in local budgets, for example,
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