AfDB approves R18.85bn loan for Transnet's business recovery plan

The African Development Bank Group (AfDB) has approved an R18.85-billion, or $1-billion, corporate loan to South Africa's State-owned freight transport and logistics group Transnet for its recovery and growth plans. The 25-year loan is fully guaranteed by the government of South Africa. It will facilitate the first phase of the group's R152-8-billion, or $8.1-billion, five-year capital investment plan to improve its existing capacity ahead of expansion for the priority segments throughout the transport value chain.