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