Brics bank signs R5bn loan with Transnet
New Development Bank funds will mainly be used for SOE’s freight rail recovery efforts
01 September 2024 - 08:46
Transnet has clinched a R5bn loan from the Brics New Development Bank (NDP) to help to fund its recovery plan.
The troubled rail and logistics SOE signed the loan agreement at the NDB’s ninth annual meeting in Cape Town on Friday. According to Transnet, the funding will go towards improving freight rail operations. ..
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