South Africa's Transnet gets $2.8 billion government guarantee
Transnet has struggled to provide adequate freight rail and port services for years because of equipment shortages and maintenance backlogs linked to under-investment, with cable theft and vandalism also damaging the rail network.
The support package comprises a 41 billion rand guarantee for Transnet's funding requirements in the 2025/26 and the 2026/27 financial years and a 10 billion rand guarantee to help it service debt and make capital investments.
Transnet said in a statement that the support would allow it to build on progress with strategic rail and port reforms.
($1 = 18.0252 rand)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
3 minutes ago
- The Sun
Major change for Blue Badge holders kicking in TODAY with 1,000s of disabled drivers set to miss out on £3,700 discount
A NEW government EV grant scheme goes live from today, which aims to encourage drivers to buy electric vehicles - by offering a discount of up to £3,750. But many disabled drivers and Blue Badge holders may struggle to benefit from the grant - due to its price cap. 3 3 3 Launched today, August 11, the scheme allows motorists to save up to £3,750 on new EVs priced under £37,000. But the initiative, part of a £650 million effort to boost EV adoption, has been criticised as it means Blue Badge holders may miss out. Industry experts have estimated that 11,000 disabled Blue Badge holders may not be eligible for the savings due to restrictive affordability criteria. They found that only 20 of the 40 most accessible and affordable EVs on the Motability Scheme meet the price threshold. To that end, half of the most practical models for disabled drivers and Blue Badge holders could be excluded from the scheme. And furthermore, disabled motorists often require vehicle adaptations or wheelchair-accessible conversions, but these are not covered under the scheme and must be paid out of pocket - making EVs less affordable for disabled individuals. Experts, such as Matt Fieldhouse of Mobility in Motion, argue that the scheme neglects the specific needs of disabled drivers. As reported by InsiderMedia, Fieldhouse said: "To make the transition to electric vehicles truly inclusive, the latest policy must consider additional support for disabled motorists. 'This includes raising the price cap for EVs under the Motability Scheme, recognising the additional costs of adapting your vehicle, and ensuring that grant eligibility reflects the real-world needs of disabled drivers - not just headline affordability." How to get a Blue Badge A Blue Badge offers parking benefits for disabled individuals with applications assessed by local councils, while costs vary across the UK. Moment row erupts as driver says 'I didn't hit your car, f---ing prove it' In England, Wales and Scotland, you can apply for a Blue Badge on the website, with some people qualifying for the badge automatically and others assessed on an individual basis. Local councils are the ones in charge of assessing eligibility for badges, with applications taking up to 12 weeks. Badges in England cost £10, whilst in Scotland, they are priced at £20. In Wales, badges are free. If the council decides you are not eligible for the badge, you can request them to reconsider your application. In the UK, wheelchair-accessible vehicles are those that have been modified by increasing the interior size of the vehicle and equipping it with a means of wheelchair entry, such as a wheelchair ramp or powered lift. The £600million-a-year Disabled Motability scheme offers essential support to individuals with severe physical or mental disabilities. The scheme is funded by the Department for Work and Pensions, supports around 589,000 claimants in England and Wales as of 2024. Which EVs are eligible for the new Electric Car Grant? When the new Electric Car Grant was announced by the government on 15 July 2025, it was revealed that, to qualify cars, must be priced at or under £37,000 as well as meeting other warranty, battery range and sustainabilit y criteria. It was also revealed that there are two levels for the grant; Level 1, which is for cars that score more favourably against the government's sustainability criteria. These, in turn, will gain the maximum £3,750 grant. Level 2 cars, though, are deemed less sustainable and will receive the £1,500 grant. All cars approved for the grant so far fall into Level 2, making them eligible for a £1,500 discount. Alpine A290 Citroen e-C3 Citroen e-C3 Aircross Citroen e-C4 Citroen e-C4 X Citroen e-C5 Aircross Citroen e-Berlingo M Nissan Micra Nissan Ariya Renault 4 Renault 5 Renault Megane E-Tech Renault Scenic E-Tech Vauxhall Corsa Electric Vauxhall Astra Electric Vauxhall Frontera Electric Vauxhall Mokka Electric Vauxhall Grandland Electric Vauxhall Combo Life Electric
South Wales Argus
33 minutes ago
- South Wales Argus
Mauritius ‘to receive £35bn' for Chagos deal over 99 years
Conservative shadow foreign secretary Dame Priti Patel accused ministers of trying to 'cover up' the cost of ceding the Chagos Islands to Mauritius, accusing them of using an 'accountancy trick' to price the deal at £3.4 billion. The higher figure, released after a freedom of information request to the Government Actuary's Department, is a nominal amount. Adjusted to account for inflation, the deal is thought to be worth an average £101 million a year in 2025/26 terms, lowering the value to around £10 billion in today's money. The UK Government has agreed to cede the Chagos Archipelago to Mauritius but retain control of the military base on Diego Garcia. Ministers feared that without a deal, the base's future was in doubt amid challenges in international courts and tribunals. Dame Priti Patel said it was a terrible deal for the taxpayer (Stefan Rousseau/PA) 'We've all known it's a terrible deal with huge costs to hard-pressed British taxpayers,' Dame Priti wrote in The Telegraph, which first reported the figures. 'But for months, ministers in public and Parliament have sought to cover up the true amounts.' Dame Priti also warned that 'instead of owning up to the costs, Labour has used an accountancy trick to claim the amount was only £3.4 billion – still a vast waste of money'. She described the £35 billion figure as 'mind-blowing', and labelled Foreign Secretary David Lammy as ''Calamity' Lammy'. Dame Priti accused him, Prime Minister Sir Keir Starmer, Attorney General Lord Hermer and special envoy for the negotiations Jonathan Powell of being 'the worst team of negotiators in history'. The figures, seen by the PA news agency, show that the Government used a Treasury principle to reduce the figure by between 2.5% and 3.5% per year to £3.4 billion. This 'social time preference', used since 2003, is based on the idea that taxpayers would prefer to get their return on the deal sooner rather than later.
Reuters
33 minutes ago
- Reuters
African Development Bank to finance $500 million of Ethiopia's new airport
ADDIS ABABA, Aug 11 (Reuters) - The African Development Bank will contribute $500 million towards the financing of a new airport in Ethiopia - which is expected to be Africa's largest when completed in 2029 - it said on Monday. State-owned Ethiopian Airlines has signed an agreement for the design of the four-runway airport near the town of Bishoftu, around 45 km (28 miles) southeast of the capital Addis Ababa. The airline has said it will provide 20% of the funding for the $10 billion project and the rest will come from creditors. "The bank has itself earmarked up to $500 million, subject to board approval, to anchor the funding of this transformational regional integration project," the development bank said in a statement. Last week, it said it was leading efforts to raise $7.8 billion for the project, which will have the capacity to handle 100 million passengers per year.
