Enoch shows Transnet tough love
Lack of extra funding is not a negotiating tactic, he says
22 February 2024 - 10:30
Finance minister Enoch Godongwana continues to play hardball with Transnet. There is no new budget allocation for the state-owned logistics company, steeped in debt of R130bn.
Economists from Nedbank and ratings agency Fitch last month predicted additional bailouts for ailing public entities, including Transnet, which they said would result in a steeper increase in debt than the government anticipated. The Treasury had in December provided Transnet with a R47bn guarantee facility to support its recovery and meet its immediate debt obligations. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
This article is free to read if you sign up or sign in.
If you have already registered or subscribed, please sign in to continue.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.