Road freighters says R18 billion Transnet loan is a positive move
The Road Freight Association says Transnet's R18 billion loans from the African Development Bank is a move in the right direction.
The bank announced its approval last week for the 25 year R18.85 billion corporate loan to the logistics enterprise for its recovery and growth plans.
The association's CEO Gavin Kelly says the allocation of funds and accountability must be closely monitored.
He says they want to see real changes to Transnet's operations need to be seen.
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"There's some cash now flowing into Transnet but the Road Freight Association hopes that there will be measurable changes and that there will be positive developments with what Transnet is going to do with that money," said Kelly.
"It isn't money that is going to disappear along the same lines of SAA and other institutions. Is it going to be used to improve for example ports, or is it for specific railway lines and security. We are pleased to see that investment is happening."
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