Absa has denied involvement in the funding of Karpowership, a Turkish company that plans to provide electricity to South Africa through floating power stations.
- The company has been awarded contracts by the South African government, but the deal has been met with criticism from some quarters due to concerns about the environmental impact and the cost of the project.
- Absa’s denial comes after reports that the bank was involved in the financing of the project.
- Absa has stated that it is not involved in the funding of Karpowership and that it has not provided any financing or guarantees for the project.
- The bank has also stated that it has not received any requests for financing from Karpowership or its parent company.
- Absa has emphasized its commitment to environmental sustainability and stated that it will only provide financing for projects that meet its environmental and social criteria.
- The Karpowership project is part of South Africa’s efforts to address its electricity shortage and reduce its dependence on coal-fired power plants.