Subscribe & Follow

Advertise your job vacancies

BizTrendsTV

RAPT BizTrendsTV: Nokulinda Mkhize: How Spiritual wellness is changing the workplace

Jobs

Imports Controller (Demand Planner) Johannesburg
Content Marketer Elandsfontein, Johannesburg
Expediting Administrator Johannesburg
Logistics/Inventory/Operations/Customer Services Johannesburg
Executive Director to the CEO Bloemfontein

More jobs Submit a job Open account

Transnet secures R5bn loan from Brics bank

Transnet has secured a R5bn loan from the New Development Bank, established by the Brics group of emerging economies. The loan, which will be guaranteed by the South African government, was announced by director general, Duncan Pieterse during a meeting of the New Development Bank in Cape Town.

By Wendell Roelf

2 Sep 2024

Source: Archive

Source: Archive

Transnet is saddled with about R130bn in debt and has struggled to provide adequate freight rail and port services because of equipment shortages and maintenance backlogs after years of under-investment.

Transnet's chief executive said the money from the Brics bank would be used for the company's turnaround plan.

"There is lots of work to be done in Transnet, we've got major challenges. We need to sort it out and that's what we need the money for," Transnet CEO Michelle Phillips said.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/

About Wendell Roelf

Reporting by Wendell Roelf; Writing by Bhargav Acharya; Editing by Alexander Winning.

Top stories

The non-human consumer: How AI is transforming everyday buying decisions

Marketing & MediaThe non-human consumer: How AI is transforming everyday buying decisions

Tamara Ojeaga, Kantar 7 hours

$The TBWA\Hunt Lascaris Save Our Stay campaign takes aim at the unpredictable world of short-term rentals and is an example of how funny isn’t frivolous, it’s effective (Image supplied)$

Marketing & MediaHumour is our superpower and it’s no laughing matter

9 hours

(Image source: © Provoke Media Ogilvy, Clockwork and Razor PR represented SA in the Sabre Global Awards Top 40 campaigns

Marketing & MediaOgilvy, Clockwork and Razor PR's campaigns ranked in global awards

10 hours

A Judicial Conduct Committee has cleared Johannesburg High Court Judge Denise Fisher of wrongdoing. Archive photo: Ashraf Hendricks/GroundUp

LegalJudge Denise Fisher succeeds in clearing her name

Tania Broughton 4 hours

Cell C to list on JSE in major restructuring move

ICTCell C to list on JSE in major restructuring move

Nqobile Dludla 7 hours

Warc’s The Future of Commerce Media 2025 examines trends, advertising investment and the impact of AI on retail media (Image source: © 123rf )

Marketing & MediaRetail media: Agentic AI commerce arrives, estimated value of $136bn in 2025

9 hours

More news

Pick n Pay and Vivo Energy transform convenience retail in Botswana

Retail

Pick n Pay and Vivo Energy transform convenience retail in Botswana

8 hours

Image source: benwhitephotography from

Education

Warning against fraudsters offering school placements

5 hours

Source: 955169 via

Agriculture

SA sugar industry warns of crisis as imported sugar surges 400%

4 hours

Unlock powerful retail insights with Trade Intelligence’s refreshed website

Retail

Unlock powerful retail insights with Trade Intelligence’s refreshed website

8 hours

Insaaf Daniels, head of human capital at redPanda Software

HR & Management

How job hugging is impacting organisations and what to do about it

Insaaf Daniels 8 hours

Source: Supplied | Majeka House Boutique Hotel by The Living Journey Collection

Tourism & Travel

Majeka House to open new winelands restaurant Plenitude

5 hours

2025 Diabetes Summit focuses on mental health in diabetes care

Healthcare

2025 Diabetes Summit focuses on mental health in diabetes care

University of Pretoria 6 hours

Shoprite and Checkers host Market Day 2025 to empower community farmers

Retail

Shoprite and Checkers host Market Day 2025 to empower community farmers

10 hours

Cape Forest Products creates a sustainable timber future

Manufacturing

Cape Forest Products creates a sustainable timber future

PG Bison 9 hours

Image source: Drazen Zigic from

Legal

Estate planning for your business: What happens to your company if you suddenly die?

9 hours

Source: K. Kendall via | A textile factory in Lesotho.

Logistics & Transport

Africa’s trade deal with the US was left in limbo: What exporters can do about it

Bedassa Tadesse 8 hours

Image credit: on Pexels

ESG & Sustainability

UCT’s Children’s Institute publishes 2025 Child Gauge report

9 hours

Unlock your future: Solwazi Institute opens its doors to make accredited skills training accessible

Education

Unlock your future: Solwazi Institute opens its doors to make accredited skills training accessible

Solwazi Institute 11 hours

Cape Town startup eFama wins top prize in Meta AI accelerator

Entrepreneurship

Cape Town startup eFama wins top prize in Meta AI accelerator

10 hours

Image credit: on

Energy & Mining

NUM and Eskom kick off wage negotiations

10 hours

Image source: lightboxx –

Legal

A cross-regional guide to Africa's crypto regulations

Contributors - various African attorneys 1 day

Megaview and DNA Networks' partnership set transform African sporting venues

Lifestyle

Megaview and DNA Networks' partnership set transform African sporting venues

10 hours

Lebo Gaoaketse head of marketing and communication at WesBank. (Image supplied)

Automotive

SA's new vehicle sales hit 10-year high as confidence returns

1 day

Nederburg winery cuts municipal water use with new irrigation system

Agriculture

Nederburg winery cuts municipal water use with new irrigation system

10 hours

CWP worker Ewart Sithebe, in the yellow jacket with a microphone, led the crowd. Photo: Warren Mabona / GroundUp

HR & Management

EPWP workers march for permanent jobs and better pay

Warren Mabona 1 day

Image credit: on

Healthcare

Recipients of 2025 Discovery Foundation Awards announced

10 hours

Mandela Remembrance Walk and Run to mark 12 years since Madiba's passing

Lifestyle

Mandela Remembrance Walk and Run to mark 12 years since Madiba's passing

Optimize Agency 7 hours

AI is transforming how travellers plan, book, and navigate trips, new research finds

Tourism & Travel

AI is transforming how travellers plan, book, and navigate trips, new research finds

12 hours

Let's do Biz