JA Solar International Ltd
MSC Mediterranean Shipping Company
Liebherr-International Deutschland GmbH
Alarcon y Harris
Africa's Data Centre Industry Report
Car Mix
Africa's Data Centre Industry Report

twitter Facebook Linkedin acp Contact Us

Transnet receives shot-in-the-arm investment boost

The investment is expected to enhance our operational capabilities and contribution to the growth and competitiveness of the economy. (Image source: NDB)

The New Development Bank (NDB), an organisation created to mobilise resources for infrastructure and sustainable development projects in the BRICS and other emerging economies, has announced a R5bn (approx. US$278mn) loan agreement with Transnet, South Africa’s leading freight transport and logistics company

Transnet has faced consistent challenges over the last few years and has come under heavy criticism at times for operational issues with its ports and rail networks, equipment shortages, maintenance backlogs and beyond. However, the organisation has committed to addressing these past challenges, fostering integrity and enhancing efficiency and has received support in this endeavours, including from the African Development Bank.

NDB has become the latest to show support through an investment commitment that aims to modernise and improve the country’s freiht and rail sector.

Signed during NDB’s 9th Annual Meeting, the loan will be used enhance the efficiency and capacity of freight systems, while driving a rail network infrastructure renewal, locomotive overhauls and wagon fleet renewals. This programme is expected to restore freight rail volumes in South Africa, improving operational performance and reliability, and contributing to a sustainable future.

“We are delighted to partner with Transnet in this transformative initiative,” remarked NDB president, Dilma Rousseff. “This loan underscores NDB’s commitment to supporting sustainable development and economic growth in South Africa. By modernising the freight rail sector, we aim to facilitate more efficient logistics operations that will benefit the entire region and align with our goal of investing in a sustainable future.”

Transnet Group chief executive, Michelle Phillips, added, “This investment is important for Transnet, as we accelerate implementation of the Recovery Plan and economic reforms. The modernisation programme will enhance our operational capabilities and contribution to the growth and competitiveness of the economy. We are grateful for NDB’s support and look forward to a successful collaboration.”

Most Read

Genuine Volvo Parts are specifically developed, tested and approved to get the very best results from your Volvo machine. (Image source: Volvo CE)

The project carries an estimated total cost of US$12bn. (Image source: The Republic of Ghana Presidency)

Bobcat has included additional features to enhance the visibility around the machines. (Image source: Bobcat)

Africa Energy Forum 2024 was held in the Fira de Montjuïc in Barcelona. (Image source: ACP)

The project sought to address the high accident rate at the old Breidbach intersection and the traffic congestion. (Image source: SANRAL)

The transaction will give TotalEnergies an interest in hydropower projects in Uganda, Rwanda and Malawi. (Image source: Adobe Stock)

The project will extend and modernise the Moroni and Boingoma ports. (Image source: AfDB)

The initiative was unveiled at a meeting at the UIA head office. (Image source: UIA)

The Cat G3520 Fast Response natural-gas generator set is available for dealers around the world. (Image source: Cat)

The groundbreaking ceremony was attended by key representatives from the Ugandan Government, local communities and the companies involved in the project’s delivery. (Image source: AMEA Power)

Hyde Johannesburg marks a major milestone for Ennismore as the brand’s first hotel in Africa. (Image source: Ennismore)

Through the acquisition, Mauser is extending its existing production capacities and footprint in South Africa. (Image source: Adobe Stock)

Mandla Mbonambi, CEO of Africonology Solutions. (Image source: Africonology Solutions)

The Forte Secondary School fulfils an important role of educating 2,400 learners. (Image source: Bell Equipment)

Paltech stated the new collaboration solidifies its position as a leading provider of advanced valve solutions in South Africa and beyond. (Image source: 2Roads)

Latest news

The 165.6MW Benban solar plant in Egypt, which uses Astronergy solar module products. (Image source: Astronergy)

By localizing production, Stellantis is contributing to job creation, skill development, and technology transfer in Egypt. (Image source: Stellantis)

The investment is expected to enhance our operational capabilities and contribution to the growth and competitiveness of the economy. (Image source: NDB)

Left to right: Takuya Yamamoto, head of construction & mining equipment business unit No.2 Sumitomo Corporation; Romain Bia, deputy CEO BIA Group; Kenichi Hyuga, general manager, construction & mining system SBU Sumitomo Corporation; Vincent Bia, CEO BIA Group; and Damien De Prijck, CFO BIA Group. (Image source: BIA Group)

Southern Africa’s rich renewable resources could help form the basis for a thriving hydrogen economy. (Image source: Synergy Consulting)

EGA offers solutions tailored for both local and export markets including in countries such as Malawi, Mozambique, Angola, Ghana, Zimbabwe, Zambia, Kenya, Tanzania, Uganda, Rwanda, Namibia, and Botswana. (Image source: EGA)

Capital raised from the Series A round has been used to ramp up electric motorcycle and battery production, expand the company’s swap station network, and continue R&D on battery technology and software. (Image source: Ampersand)

A global shortage of power is inhibiting the growth of the data centre market. (Image source: Adobe Stock)

The development will enable mobile service providers to deliver 5G services to their subscribers. (Image source: Adobe Stock)

The move is expected to accelerate South Africa’s renewable energy transformation. (Image source: AIKO)

AFC is arranging a project development facility to support Africa’s largest gas-to-methanol plant. (Image source: AFC)

In phase 2 of the project, GBB adopted Huawei’s FusionDC1000B prefabricated modular data centre solution. (Image source: GBB)

The project carries an estimated total cost of US$12bn. (Image source: The Republic of Ghana Presidency)

L to R: Wayne Bowyer, managing director of Toyota Tsusho Africa; Andrew Velleman, CEO of CFAO South Africa; Andrew Kirby, president and CEO of Toyota South Africa; Rev Musa Zondi, KZN MEC for Economic Development, Tourism, and Environmental Affairs; Minister Parks Tau, SA Minister of Trade, Industry and Competition; Hiroshi Morita, CEO of Ogihara Thailand; and Nigel Ward, Toyota EVP: manufacturing and manufacturing support. (Image source: CFAO South Africa)

An important substation E-house facility at Sasol’s Upstream PSA Project in Mozambique has relied on WEG Africa’s depth of experience. (Image source: WEG Africa)

African Review