The National Treasury approved the provision of a guarantee to Transnet as part of a condition for the state- owned logistics company to secure an R18.5bn loan from the African Development Bank (AfDB) to avoid inevitably providing it with a bailout.
“I had two options. Either to give them cash or a guarantee. I opted for a guarantee,” finance minister Enoch Godongwana told Business Day on the sidelines of the ANC’s three-day lekgotla. ..
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