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Dec
02
2023
By NELSON BANYA
South Africa throws troubled Transnet $2.5 bln lifeline

South Africa throws troubled Transnet $2.5 bln lifeline

BUSINESS
SOUTH Africa handed Transnet a 47 billion rand ($2.5 billion) lifeline, which it said would help the state-owned rail and ports firm meet its immediate debt obligations. Transnet has struggled to provide adequate freight rail and port services in South Africa due to equipment shortages and maintenance backlogs after years of under-investment. The logistics utility's underperformance has impacted commodity exports and other sectors such as manufacturing and retail, weakening Africa's most advanced economy. "The financial support package provided for the entity is a 47 billion rand guarantee facility against which Transnet will drawdown an initial amount of 22.8 billion rand…
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Sep
30
2021
By The African Mirror
South Africa tells Western envoys it needs financial support to shift from coal

South Africa tells Western envoys it needs financial support to shift from coal

ENVIRONMENT
SOUTH Africa told visiting climate envoys from the United States, Britain, Germany and France that it needs major financial support to move away from coal, according to the environment department. South Africa is the world's 12th biggest carbon emitter, according to the Global Carbon Atlas, five places ahead of the United Kingdom, an economy eight times the size, emitting 479 million tonnes of carbon dioxide equivalent (Mt CO2e) in 2019. It is also by far Africa's largest emitter. This month, the government adopted a more ambitious emissions reduction target of 350-420 Mt CO2e per year by 2030, weeks before the…
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