Coalitions were always the most likely scenario for a country that selects political representatives using a system based on proportional representation. Nevertheless, actually moving from a majority government to one based on coalitions or cooperation is still unsettling. Doubly so, given the less-than-satisfactory performance of such coalitions at several local governments. It requires a degree of political levelheadedness difficult to achieve in a society and world that is increasingly polarised.
The Asian Infrastructure Investment Bank (AIIB), which is headquartered in Beijing, plans to invest $1-billion in projects across Africa, where only 4% of the $52-billion it has financed since its inception eight years ago has been directed. AIIB president Jin Liqun reports it has a pipeline of seven projects in Africa, which it is seeking to build further, while there is also interest from African members to issue Panda bonds.
The reforms under way in the freight rail sector are advancing at an impressive clip and should soon open the system to new private operators. However, there are warnings of a prohibitively high tariff outcome should the methodology outlined in the draft Network Statement be introduced.
An office to manage auctions of independent transmission projects could be set up at a leading South African development finance institution. Bloomberg reports that the Development Bank of Southern Africa is aiming to establish the office to bring in private funding into the deployment for the grid so as to help connect renewable generation to a network that needs to be expanded urgently to meet demand.