Subscribe & Follow

Advertise your job vacancies

BizTrendsTV

RAPT BizTrendsTV: Student Village's Ronen Aires - Gen Z's disruption of the world

Jobs

Telesales and Marketing Representative Cape Town
Post Office Operations Clerk Johannesburg
Executive Director: Urban Mobility Cape Town
Inventory Controller Epping
Telesales and Marketing Representative Cape Town
Journalist Johannesburg

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.

Related

BizTrendsTV

RAPT BizTrendsTV: Student Village's Ronen Aires - Gen Z's disruption of the world

Top stories

Chris Hani to Cape Town rail line reopens for commuters

Logistics & TransportChris Hani to Cape Town rail line reopens for commuters

30 May 2025

Source:

Marketing & MediaChicken Licken accuses KFC of ad imitation

Karabo Ledwaba 1 day

Amazon.co.za expands its offering with everyday essentials

RetailAmazon.co.za expands its offering with everyday essentials

10 hours

Source: © Tourism Business Council of SA Dashni Vilakazi, managing director of The MediaShop, highlights the differences between celebrity and nano influencers, offering insights into how brands can harness their distinct advantages. Pictured: Trevor Noah promoting SA for TSA

Marketing & MediaWhat works best for brands? Celebrity influencers vs nano influencers

Dashni Vilakazi 12 hours

Source:

Marketing & MediaMail & Guardian staff face job cuts

13 hours

Stars of the campaign include Oskido and LeemcKrazy. Source: Supplied.

Marketing & Media#BehindtheCampaign: Pepsi celebrates young kasi hustlers

14 hours

More news

Is SEO really dead because of generative AI?

Marketing & Media

Is SEO really dead because of generative AI?

Yoray Narainpersad - The Google Whisperer, Fast Forward Marketing 11 hours

#Orchids&Onions: Renault's Duster ad is a breath of fresh air

Marketing & Media

#Orchids&Onions: Renault's Duster ad is a breath of fresh air

Brendan Seery 14 hours

Ashish Williams (left) has been appointed senior vice president, media, for Publicis Groupe Africa, reporting directly to Koo Govender, CEO of Publicis Groupe Africa (right) (Image @ Bizcommuniy)

Marketing & Media

Publicis Groupe Africa appoints Ashish Williams as SVP, Media

1 day

Jacobs debuts its new Origins’ Beans range in SA

Retail

Jacobs debuts its new Origins’ Beans range in SA

1 day

Tiger Brands' strategy triumphs in challenging economic times

Retail

Tiger Brands' strategy triumphs in challenging economic times

15 hours

Shoprite's Usave stores boosts energy efficiency, food quality with smart tech

Retail

Shoprite's Usave stores boosts energy efficiency, food quality with smart tech

1 day

Leeuwfontein Crossing: Limpopo's newest retail development

Retail

Leeuwfontein Crossing: Limpopo's newest retail development

1 day

Tractor Media Holdings evolves into media and innovation hub Glynt

Marketing & Media

Tractor Media Holdings evolves into media and innovation hub Glynt

Tractor Outdoor 1 day

Temu highlighted at Google I/O 2025

Retail

Temu highlighted at Google I/O 2025

1 day

This Youth Month Unathi Mahlangu, public relations and communications intern at NerdNarrative dares you to step into your potential (Image supplied)

Marketing & Media

Step into your potential and honour Youth Month

Unathi Mahlangu 1 day

Source:

Marketing & Media

Can you truly bond with AI? Waseda University's findings may surprise you

1 day

Media24 unveils unified advertising and content team

Marketing & Media

Media24 unveils unified advertising and content team

Media24 29 May 2025

Source: © 123rf The South African Revenue Service (Sars) has announced the official start of the 2025 Filing Season, effective from 07 July 2025 to 20 October 2025

Finance

Sars announces 2025 tax filing season

11 hours

From learning to earning: how to accelerate Africa’s digital economy

ESG & Sustainability

From learning to earning: how to accelerate Africa’s digital economy

Trialogue 7 hours

Supplied images

ESG & Sustainability

The Big Biodiversity Challenge 2025 is open for entry

8 hours

Fuel price update still pending as June adjustment date nears

Automotive

Fuel price update still pending as June adjustment date nears

10 hours

The Labour Court of Appeal has ruled that the Simunye Workers Forum fails to comply with the Labour Relations Act for registration as a union. Archive photo: Kimberly Mutandiro / GroundUp

HR & Management

Setback for casual workers as court rules forum is not a union

Tania Broughton 9 hours

Image source: Christos Georghiou from

Legal

Court voids over R2.2m in payments during Wheatcor's liquidation proceedings

Lara Horne and Werner Lotter 10 hours

Kimberley Taylor, founder & CEO of Loop

Entrepreneurship

From student to CEO: 8 lessons for young entrepreneurs

Kimberley Taylor 30 May 2025

Source: Source: twitter/@jpmorgan

Finance

JPMorgan Chase strengthens EMEA M&A team with former HSBC leader

1 day

Supplied image: Rosebank International University College in Accra, Ghana

Education

Rosebank International University College launches in Ghana

14 hours

Source: Reuters.

Finance

South Africa GDP growth outlook gets biggest cut since early 2023

Vuyani Ndaba 28 May 2025

Source: Wikimedia/Lschefa, CC BY-SA 4.0. Lesotho’s capital.

Healthcare

Lesotho’s health system has been decimated by US funding cuts

Sechaba Mokhethi 1 day

Image source: mindandi from

Legal

Smile, you're on camera: Court reaffirms virtually signed agreements still valid

Mtho Maphumulo 1 day

From L-R: Alberto Giménez (Technical Director at Real Madrid Foundation EFP South Africa); Brendan Epstein (Marketing Director at Real Madrid Foundation EFP South Africa & Founder of Collab Advertising); Andrés Muntaner Borrajo (Director of the Real Madrid Foundation EFP); Jevron Epstein (President of the Real Madrid Foundation EFP South Africa & CEO of Generation Schools); Kerryn Ackermann (Senior Management at Generation Schools); Sandra De Abreu (Senior Management at Generation Schools); Jac Vos (Financial Director at Real Madrid Foundation EFP South Africa & Financial Director at Generation Schools), Kyle Savile (Senior Management at Generation Schools).

Education

Real Madrid's 3rd SA youth football programme kicks off in Joburg

30 May 2025

Let's do Biz