Business expects quick turnaround from Transnet after Treasury’s lifeline
Guarantee comes with stringent conditions
Transnet’s acting management will be under pressure to effect a quick turnaround at SA’s failing port and rail network after the Treasury yielded to pressure for a bailout, providing a R47bn guarantee (https://www.businesslive.co.za/bd/national/2023-12-01-treasury-approves-r47bn-support-package-for-transnet/) that will make it easier for Transnet to borrow and go to the market for capital.
The Treasury took many by surprise on Friday when it announced the package to support Transnet’s “recovery plan, including meeting its immediate debt obligations”...
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