Prasa loses R928m in a year

The Passenger Rail Agency of SA’s (Prasa) 2016/17 financial statement indicates a comprehensive loss of R928 million – up from R554 million recorded in the 2015/16 financial year.

Interim group chairperson Sibusiso Sithole said yesterday they are presiding over an entity that is “broken” and struggling to survive.

Despite this dismal performance, the rail agency said its balance sheet is “healthy”. – ANA