Transnet may not need state bailout, says Treasury DG
The entity could leverage its guarantee to raise funds and focus on its operational challenges
Transnet would not necessarily need the bailout the state-owned logistics group has been pushing for if it leveraged its government guarantee to raise the funding it needed and focused on dealing with its operational challenges and implementing reforms, National Treasury director-general Duncan Pieterse said at the weekend.
He was speaking on the sidelines of the New Development Bank (NDB) annual meetings in Cape Town, where the bank and Transnet signed a R5bn loan agreement (https://www.businesslive.co.za/bd/national/2024-08-30-brics-bank-lends-r5bn-to-transnet/), the first tranche in a R18bn ($1bn) loan programme that the Shanghai-based bank has approved for Transnet, which is due to report its annual financial results today...
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