Billions and billions of Rands are flowing into Transnet in the hopes of recovery, backed by the SA taxpayer.
The loan makes part of a larger R153 billion investment planned by the South African government to fix Transnet’s many issues.
The loan is set to aid the ailing national entity in its ongoing recovery and growth plans. The nearly R19 billion loan is already on top of anAfrican Development Bank’s Board of Directors have said that the South African government has fully guaranteed the 25-year loan, thanks to its taxpayers.
“The accompanying grant funding to the loan will also greatly assist Transnet with to its energy efficiency efforts and with Infrastructure Project Preparation initiatives.”
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