Latest news with #BarbaraCreecy
Zawya
4 days ago
- Business
- Zawya
Reopening of Central Line Will Ease Traffic Congestion on Cape Town Freeways
The Chairperson of the Portfolio Committee on Transport, Mr Donald Selamolela, has noted with appreciation the successful reopening of the Central Line connecting Khayelitsha to the CBD. Mr Selamolela attended the function that was overseen by the Minister of Transport, Ms Barbara Creecy, Deputy Minister Mr Mkhuleko Hlengwa, and the City of Cape Town Mayor, Mr Geordin Hill-Lewis. Mr Selamolela said: 'This is a significant infrastructural rail project that must benefit our people to and from work. We particularly appreciate the investment government has put into this project. We are changing the lives of people of Cape Town for the better.' The Central Line which used to commute 2 million passengers daily, had fallen victim to vandalism which saw the rail tracks being stolen and the stations being vandalised. This Mr Selamolela called on the Passenger Rail Agency of South Africa (PRASA) not to lose momentum and increase the volume of carriages on the rails while significantly improve signalling equipment as that will ease pressure on Cape Town freeways. 'The reopening must not end with the photo opportunity of officials, but a real change in people's lives through the provision of affordable, safe and reliable public transport. PRASA must act with speed and regain the trust people used to place on trains. We want them to be a transport mode of choice.' Mr Selamolela urged the community and community leaders to play a role in protecting and guarding the rolling stock and the network as the assets are theirs. 'The greatest security is in the hands of the people. They must safeguard the Central Line against cable theft and burning of trains.' 'Our country requires this service as of yesterday. So many of our people are unemployed and will benefit greatly from this PRASA initiative.' Distributed by APO Group on behalf of Republic of South Africa: The Parliament.
Eyewitness News
5 days ago
- Business
- Eyewitness News
Creecy hails reopening of Chris Hani rail corridor on CT's central line as a critical milestone
CAPE TOWN - The reopening of the Chris Hani to Cape Town leg of the central line has been hailed as a critical milestone in restoring full train services in the metro. The central line is Cape Town's most important rail corridor as it connects communities of Khayelitsha and Mitchells Plain to the Cape Town and Bellville CBDs. At full capacity, it contributes 350,000 daily passenger trips to Cape Town's 680,000 train commuters. Transport Minister Barbara Creecy visited the city on Thursday to reopen the rail artery from Khayelitsha to the city centre. ALSO READ: Crucial link in Cape Town's central rail network reopens Minister Creecy said the recovery of the Cape Town central line had not been easy, with illegal occupation and infrastructure vandalism delaying the resumption of train services. Creecy said that a fully recovered central line had the potential to return a considerable number of commuters to the train, thereby easing the city's unbearable traffic congestion. "With this achievement, we are one step closer to returning passenger rail to its rightful place as the backbone of public transport and of economic growth in our country." She said that the reopening of the line from Chris Hani to Cape Town CBD was more than the reopening of a rail line, but a return to dignity, mobility, and hope for working-class Capetonians.
TimesLIVE
5 days ago
- Business
- TimesLIVE
Cape Town central line recovery created more than 2,500 jobs: Creecy
More than 2,500 jobs have been created during the recovery of the Cape Town central line, transport minister Barbara Creecy said during its official reopening on Thursday. Creecy said this meant a direct contribution to the local economy. The central line from Chris Hani to Cape Town city reopened after it shut down for four years due to cable theft and vandalism. Its reopening comes after extensive repair work on stations, substations and overhead traction electrification systems. The central line is Cape Town's most important rail corridor. It connects the communities of Khayelitsha and Mitchells Plain to the Cape Town CBD and Bellville CBD. At full capacity the line contributes 350,000 of Cape Town's 685,900 daily passenger trips. The process of recovering the central line corridor has so far cost R1.3bn, said Creecy. The recovery of the line is more than the reopening of a rail line, she said. 'It is the return of dignity, mobility and hope for the working-class people of Cape Town. 'There are now two trains departing Chris Hani Station per hour on the central line. But as we increase our signalling capacity, we hope to run an optimal service where we have six trains per hour.' 'The recovery of the line had lot of challenges, including illegal occupation, vandalism of infrastructure and a grim security environment. Today the train ride from Chris Hani station to Cape Town station is a safe, reliable and modern rail corridor that again connects people to opportunities to work and to education,' she said. Creecy said the reopening of lines has led to a significant increase in passenger trips nationwide, reaching 77-million over the past year. This figure is projected to reach 123-million this year, indicating a clear trajectory towards the goal of 600-million by 2030/2031. Creecy said several initiatives are ongoing to ensure the progress made is sustained and accelerated. 'The revised rail bill [Railway Safety Bill] is in the cabinet system and once approved will be released for public comment. The bill will provide much needed clarity on the future of the rail reform process, especially in how it will affect commuters, as well as determining the modalities of possible devolution of certain rail functions.'
IOL News
26-05-2025
- Business
- IOL News
Transnet gets R51 billion government guarantee boost to continue with recovery plan
Minister of Transport Barbara Creecy has this week approved a R51 billion guarantee facility for Transnet. The State-owned freight and logistics group plays a central role in the South African economy and the government's goal of inclusive growth. Image: Supplied Minister of Transport Barbara Creecy has approved a R51 billion guarantee facility for Transnet, effective immediately, in a bid to bolster the State-owned freight and logistics group. This financial backing, which was granted with the concurrence of the Minister of Finance, aims to support Transnet's vital capital investment programme and assist the entity in meeting its debt obligations amidst ongoing reforms. Transnet's significance cannot be understated; it serves as a cornerstone of the South African economy, playing a critical role in facilitating the government's goal of inclusive growth. Currently, Transnet is undergoing a comprehensive reform programme designed to enhance its operational performance as it strives to address longstanding financial, operational, and governance challenges that have impeded its ability to deliver on its strategic mandate. As part of its trajectory towards improvement, Transnet reported a successful record of transporting the equivalent of 161 million tons of freight on its rail network by March 2025. Notably, the entity had also released its 2024/25 Network Statement by December 2024, which introduces private sector operators into the freight rail domain. Anticipation builds as announcements of the first successful bidders are expected to be made by the end of July. In a continued effort to promote private investment, the Department of Transport issued a Request for Information (RFI) earlier this year for private investors focusing on five pivotal freight corridors and associated ports. With the deadline for the RFI closing on 31 May, the department said Transnet was on track to issue Requests for Proposals by September, aiming to attract further capital while maintaining State ownership of the network. To navigate immediate capital investment needs, Transnet has introduced project-based applications to the Budget Facility for Infrastructure. Additionally, collaboration is underway with National Treasury and the Presidency to formulate a joint funding policy aimed at facilitating swift capital improvements through private sector involvement in priority freight corridors. The decision to grant this crucial guarantee facility resulted from ongoing discussions between National Treasury and the Department of Transport, recognising the progress Transnet has made. The financial package, amounting to R41bn, is set to address the entity's funding requirements across the 2025/26 and 2026/27 financial years, complemented by a R10bn guarantee specifically allocated for liquidity management, focusing on the servicing of maturing debt and related capital investments. This marks a continuation of support initiated in December 2023, when a R47bn guarantee support facility was announced, enabling Transnet to implement its Recovery Plan for the fiscal years 2023/24 and 2024/25. This plan has been pivotal in galvanising increased capital investments and enhancing liquidity for the entity. A Guarantee Framework Agreement will formalise the responsibilities between the Department of Transport and National Treasury, establishing reviewable conditions for the guarantees. According to the department, any drawdowns by Transnet will be contingent on compliance with these conditions, which will centre on operational requirements and reforms in the logistics sector. Creecy expressed her confidence that the additional financial support provided to Transnet will catalyse further improvements in operations and accelerate the reforms laid out in the Freight Logistics Roadmap. She said this bold move was seen as a significant step towards fostering a more efficient and robust infrastructure for South Africa's freight and logistics industry. Meanwhile, Transnet welcomed the government guarantee facility to support its sustainability and long-term growth. Transnet said the facility will enable it to refinance maturing debt and ensure the organisation's continued access to adequate resources and facilities to be able to continue its operations as well as fund the capital investment programme for the foreseeable future. "It will also enable Transnet to focus on operational improvements and strategic reforms. In line with existing Guarantee Framework Conditions, Transnet has made significant strides in implementing rail and port reforms. In pursuit of enhanced partnership and collaboration, several key Private Sector Participation (PSP) transactions are being implemented," Transnet said in a statement. "PSPs are a key element of the organisation's strategy to modernise its operations and infrastructure and grow the logistics sector for the benefit of the economy. With government's commitment to support its recovery and strong collaboration with customers and industry partners, Transnet is on course to recover and fulfil its strategic role in the South African economy." BUSINESS REPORT Visit:
The Citizen
25-05-2025
- Business
- The Citizen
R51b government bailout approved for Transnet
After receiving a R47b bailout in December 2023, the Minister of Transport, Barbara Creecy, has this week approved a R51b guarantee facility for Transnet for the next two financial years. The money will be available immediately to assist the railway company to be able to pay its debt and support its capital investment programme. According to Transnet, the facility will enable it to refinance maturing debt and ensure the organisation's continued access to adequate resources and facilities to be able to continue its operations as well as fund the capital investment programme for the foreseeable future. It will also enable Transnet to focus on operational improvements and strategic reforms. 'Transnet plays a central role in the South African economy and the government's goal of inclusive growth. The entity is currently engaged in a wide-ranging reform programme with the aim of improving operational performance in the short and medium term. 'This programme aims to overcome operational, financial, and governance challenges, hampering its ability to fulfil its strategic role,' the Department of Transport said. In line with existing Guarantee Framework Conditions, Transnet has made significant strides in implementing rail and port reforms. In pursuit of enhanced partnership and collaboration, several key Private Sector Participation (PSP) transactions are being implemented. PSPs are a key element of the organisation's strategy to modernise its operations and infrastructure and grow the logistics sector for the benefit of the economy. 'At the end of March, Transnet had succeeded in moving the equivalent of 161 million tons of freight on its rail network. 'In December 2024, the entity released the 2024/25 Network Statement, which facilitates private sector operators on freight rail. Announcements of the first successful bidders are expected by the end of July. 'In March, the Department of Transport issued a Request for Information for private investors on five key freight corridors and associated ports with the intention of promoting private investment in the Transnet infrastructure while the network remains state owned. The RFI closes on 31 May, and Transnet is expected to issue requests for proposals by September this year,' the department said. Interim solutions to meet capital investment needs by the entity include project-based applications to the Budget Facility for Infrastructure. Transnet is also working with National Treasury and the Presidency to develop a collaboration and funding policy to support immediate capital improvements by the private sector in priority freight corridors. 'In recognition of the progress made to date, the National Treasury and the Department of Transport have been working with Transnet to find a solution to the company's immediate needs and the decision to grant the guarantee facility is a result of these discussions. 'The financial support package provided for the entity is a R41b guarantee facility for its funding requirements over for the 2025/26 and the 2026/27 financial years. This package also includes a R10b guarantee that Transnet will have to utilise for its liquidity management as it relates to the servicing of its maturing debt and capital investments,' the department said. On 1 December 2023, a guaranteed support facility of R47b was announced. This enabled Transnet to execute its Recovery Plan over the 2023/24 – 2024/25 financial years. A Guarantee Framework Agreement between the Department of Transport and the National Treasury will include guarantee conditions that will be continuously reviewed and amended when deemed necessary. Any drawdowns will be subject to Transnet meeting these conditions. These conditions will again focus on certain operations requirements and logistics sector reforms. 'With government's commitment to support its recovery and strong collaboration with customers and industry partners, Transnet is on course to recover and fulfil its strategic role in the South African economy,' Transnet said. – At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
