DBSA, Tshwane Rapid Transit seal R488m loan agreement for buses
The Development Bank of Southern Africa (DBSA) has signed a R488-million loan agreement with Tshwane Rapid Transit (TRT) as part of the R800-million funding needed to buy 171 buses for the city’s A Re Yeng bus rapid transit (BRT) operations.
TRT would be the bus operator for Phase 1 of the city’s envisaged integrated transport system project – one of 13 projects across the country aimed at improving the public transport system and limiting the current challenges associated with road capacity, road safety and road congestion.
Speaking at the signing, DBSA South Africa financing group executive Tshokolo Petrus Nchocho said the transaction formed part of the bank’s investment in the public transport sector to ensure the use of efficient, safe and green transport systems in South African cities.
“The DBSA, in partnership with the Department of Transport and 13 cities, will roll out more of these projects, which are aimed at redressing past inequities by addressing [the] lack of an integrated urban transport system,” he commented.
TRT chairperson Abnar Tsebe added that the city was proud of the landmark partnership between the DBSA and TRT.
“TRT will be owned by affected taxi and bus operators, who are in full support of A Re Yeng and are working very closely with the city to ensure that Tshwane provides the best BRT model in the country,” he said,
It was envisaged that the buses would start operating later this month.
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