Exclusive: Invictus in finance talks with Southern Africa banks after Zimbabwe gas discovery - The Africa Report
Exclusive: Invictus in finance talks with Southern Africa banks after Zimbabwe gas discovery - The Africa Report.com
Australia stock exchange-traded Invictus Energy is in discussions with banks in Southern Africa on raising equity and debt finance following its gas discovery at the Cabora Bassa project in Zimbabwe, managing director Scott Macmillan tells The Africa Report.
He declined to say how much is being sought, adding that he “won’t over-leverage” the company and that he’s conscious of the need not to dilute existing shareholdings.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”