The Development Bank of Southern Africa (DBSA) also saw a surge in its disbursements by 39 per cent to 12.7 billion rand with 6.7 billion going towards power generation projects.
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Patrick Dlamini, chief executive of the DBSA said, following an extensive organisational restructuring, the bank returned to profitability.
“We focussed on implementing and delivering our new strategy thus accelerating the provision of finance to numerous social and economic sector projects,” said Dlamini.
“The bank also fast-tracked and increased efforts to assist the South African government to supply quality infrastructure directly to communities.”
Dlamini added that the DBSA aimed to support the development of projects critical to the country’s development agenda and activities that are directed to support the financing of energy generation, water and road infrastructure.
The DBSA said a total of 613 million rand was advanced towards water infrastructure projects in South Africa.
The annual results also saw a continued investment in a variety of student accommodation, affordable housing schemes and externally managed funds with mandates aligned with that of the DBSA.
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“In the year, DBSA disbursed 56 million rand to support the development of student villages and invested 194 million rand in the Old Mutual Housing Impact Fund,” said the DBSA.
“The fund finances the construction of affordable homes for sale and rent, as well as providing housing loans and rental accommodation for families and students.”
The bank also provided development financing support outside South Africa for the period under review.
The DBSA reported disbursements of 3.6 billion rand compared to the 1.6 billion rand achieved during 2012/13 financial year.
“Significant inroads were made into the planned energy and transport sectors in Angola, Mozambique and Zambia. Approvals for the year amounted to 4.0 billion rand,” reported DBSA.