CABINET CONSULTATION
Sanral funding model to be discussed amid e-toll resistance
‘We have an auction scheduled for next week, but will also consider a private placement,’ says the roads agency’s finance chief
Transport Minister Joe Maswanganyi is due to discuss the viability of the South African National Road Agency’s (Sanral’s) funding model with cabinet following resistance to electronic tolls (e-tolls), which has brought into question the agency’s going-concern status. This comes as Sanral is preparing for a bond auction next week. Sanral chief financial officer Inge Mulder said the agency had a bond auction coming up next week and was considering its options. "We have an auction scheduled for next week, but will also consider a private placement where an institution will fund and provide a price for … consider[ation]," she said. Briefing the portfolio committee on transport on Tuesday, Sanral CEO Skhumbuzo Macozoma all but conceded that resistance to e-tolls had brought collections to the brink of collapse by billions of rands. This effectively meant the new e-toll dispensation announced by Deputy President Cyril Ramaphosa in May 2015 had failed to gain traction among Gauteng motoris...
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