Latest news with #TransnetSOC
Bloomberg
22-05-2025
- Business
- Bloomberg
South Africa to Provide $2.8 Billion Guarantee to Transnet
South Africa's transport ministry with the concurrence of the minister of finance agreed to provide a 51 billion-rand ($2.8 billion) guarantee facility to Transnet SOC Ltd., the nation's beleaguered rail and ports operator. The company will be able to access the funds immediately to support its 'capital investment program and to enable it to meet its debt obligations,' the transport ministry said in a statement Thursday.
Bloomberg
12-05-2025
- Business
- Bloomberg
South African Suppliers Truck Fuel as Pipeline Fees Spike
South African fuel suppliers are looking to utilize trucks to transport the commodity inland as the cost of using the nation's main pipeline operated by Transnet SOC Ltd. surges. The National Energy Regulator of South Africa granted state-owned Transnet an 8.7% tariff increase effective April 1 on the line that runs from the coastal city of Durban to the Gauteng province, where the commercial hub of Johannesburg is located. Prices will increase another 5.7% in the next financial year.
