Transnet on track to turn a profit in 2025
Property sales may help it reverse R7.3bn net loss for year to March
03 September 2024 - 05:00
Transnet could raise as much as R4bn in cash over the next 36 months from the sale of its noncore properties as it implements the 33 conditions of the guarantee facility that Treasury made available to it last year.
The sale of the properties, which include 5,300 houses and about 3,000 other properties, is one of the conditions of the R47bn guarantee, which aimed to enable cash-strapped Transnet to raise capital but required it to fix its balance sheet and implement a recovery plan to improve its operations, and to fast-track reforms to introduce competition in rail and ports...
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