China to Loan South Africa's Power Firm Eskom $500 mln

Posted by Michelle Howard December 2, 2015

China will loan South Africa's struggling power utility $500 million as part of deals agreed on Wednesday between the two countries worth 94 billion rand ($6.5 billion), the South African government said.

China will also help to build a car manufacturing plant on South Africa's coast which should begin exporting vehicles to other African countries by the end of 2017.

(Reporting by Joe Brock)