South Africa: Government Approves R51 Billion Guarantee Facility for Transnet

South Africa: Government Approves R51 Billion Guarantee Facility for Transnet

[SAnews.gov.za] The Minister of Transport, Barbara Creecy, has this week approved a R51 billion guarantee facility for Transnet, with the concurrence of the Minister of Finance.

Creecy approves additional R51bn guarantee facility for Transnet

The money is intended to support Transnet’s capital investment programme and enable it to meet its debt obligations

South Africa to Provide $2.8 Billion Guarantee to Transnet

South Africa’s transport ministry with the concurrence of the minister of finance agreed to provide a 51 billion-rand ($2.8 billion) guarantee facility to Transnet SOC Ltd., the nation’s beleaguered rail and ports operator.

Creecy announces R51bn guarantee for Transnet

Transport Minister Barbara Creecy has approved a R51-billion guarantee facility for Transnet to support its capital investment programme and help it pay its debts. This comes after Minister of Finance Enoch Godongwana said during his budget speech on Wednesday that National Treasury would “consider a government guarantee support to Transnet, to enable the entity to refinance

On Thursday 22 May, the South African government announced the granting of a guarantee of 51 billion rands (about 2.8 billion dollars) for Transnet, the state-owned railway and port infrastructure company, facing severe financial difficulties.

Government approves R51bn Guarantee for Transnet to boost freight infrastructure - POWER 98.7

Minister of Transport, Barbara Creecy, has approved a R51 billion ...