TRANSNET has received a R51 billion government guarantee facility, approved by the Department of Transport. The state-owned company says the facility will support its sustainability and long-term growth.
It will enable Transnet to refinance maturing debt and ensure the organisation’s continued access to adequate resources and facilities to be able to continue its operations as well as fund the capital investment programme for the foreseeable future. According to Transnet, the facility will also enable it to focus on operational improvements and strategic reforms.
Transnet says that in line with existing Guarantee Framework Conditions, it has made significant strides in implementing rail and port reforms. “In pursuit of enhanced partnership and collaboration, several key Private Sector Participation (PSP) transactions are being implemented. PSPs are a key element of the organisation’s strategy to modernise its operations and infrastructure and grow the logistics sector for the benefit of the economy.”
Property auction
In a separate statement, Transnet said it will be disposing of its residential property portfolio through independent auctioneers.
Transnet Property will focus on its main mandate of commercialising the portfolio and maximising returns through best practice asset management principles and standards. The decision to disinvest from the residential portfolio, with the exception of employee accommodation in remote operational areas, is informed by recent loss-making performance and heightened risk exposure, according to Transnet.
Sasol claim settled
SASOL Oil and Transnet signed an agreement to settle their ongoing legal disputes, which became effective on 23 May 2025, according to Sasol.
In terms of the settlement, Transnet will pay Sasol R4.3 billion (exclusive of VAT) on or before 30 June 2025 in full and final settlement of all their ongoing disputes.
Legal tussles include a June 2024 judgment against Transnet, ordering it to pay R3.9 billion plus interest to Sasol. Transnet had lodged an appeal against this judgment. Transnet had also instituted a High Court action in August last year against Sasol, seeking to recover R855 million (exclusive of VAT plus interest). Judgment in this matter was pending.
