Transnet signs loan deal with international banks worth over R25bn
SOE Transnet has agreed to a 5-year loan with international lenders, led by Deutsche Bank, in its biggest funding transaction in 7 years to refinance existing debt and fund its expansion projects. In May, BusinessLive reported how Transnet is battling floods, unrest-inspired vandalism, rampant infrastructure theft, competition from trucks, and insider corruption. How issues are solved, especially at Transnet Freight Rail, will determine the fate of the economy as SA depends on exports and imports for 60% of its GDP, and virtually all of it is transport and logistics.