Transnet welcomes R5.8bn state support

The national treasury has allocated ailing state-owned freight logistics company Transnet R5.8-billion to support it in dealing with the unexpected and unforeseen expenditure due to the KZN floods in April 2022.

This was announced in the medium-term budget policy statement by Minister of Finance Enoch Godongwana.

Transnet welcomed the support from the government. “The balance of the funding will go towards the rehabilitation of rolling stock including funding for the return to service of long-standing locomotives.”

The government said it would take over most of Eskom’s R400-billion debt.

“While the selection of the relevant debt instruments and the method of effecting the relief is still to be determined, the quantum is expected to be between one-third and twothirds of Eskom’s current debt,” Godongwana said.