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Transnet signs R1.6bn loan agreement with German bank

KfW-Ipex Bank's Torsten Osterloh with
Transnet acting CE Mohammed Mahomedy

KfW-Ipex Bank's Torsten Osterloh with Transnet acting CE Mohammed Mahomedy

14th November 2019

By: Marleny Arnoldi

Online News Editor

     

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Transnet has signed a R1.6-billion seven-year bilateral loan agreement with international investor KfW Ipex-Bank.

The State-owned freight utility on Thursday said the agreement demonstrated continued investor confidence in the business and the investor’s comfort in Transnet’s improved governance environment.

This is Transnet’s second loan agreement with the German Banking Act-governed KfW, which comes with a longer tenor and larger commitment than the prior facility concluded with the bank five years ago.

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