In a recent media statement, Transnet SOC Ltd., has welcomed the Minister of Transport’s announcement of a R51 billion government guarantee facility to support its sustainability and long-term growth.
The facility will enable Transnet to refinance maturing debt and ensure the organisation’s continued access to adequate resources and facilities, allowing it to maintain operations and fund the capital investment programme for the foreseeable future. It will also enable Transnet to focus on operational improvements and strategic reforms.
In line with existing Guarantee Framework Conditions, Transnet has made significant progress in implementing rail and port reforms. In pursuit of enhanced partnership and collaboration, several key Private Sector Participation (PSP) transactions are being implemented. PSPs are a key element of the organisation’s strategy to modernise its operations and infrastructure and grow the logistics sector for the benefit of the economy.
With the Government’s commitment to support its recovery and strong collaboration with customers and industry partners, Transnet is on course to recover and fulfil its strategic role in the South African economy.
