The South African National Roads Agency (Sanral) has successfully secured a loan worth R7 billion from the New Development Bank (NDB). This funding is aimed at supporting a range of projects within the toll portfolio.
Following the approval of a R16.5 billion borrowing limit in March 2024, which included a R7 billion guarantee for this loan, Sanral is poised to enhance key economic corridors, especially along the N2/N3 routes in KwaZulu-Natal and the N1. The loan will take effect once all standard conditions are fulfilled.
Additionally, Sanral plans to utilise the unused portion of the borrowing limit to seek further funding in the local market through bonds and other loan arrangements. The agency expressed optimism about the positive outcomes that this long-awaited funding will bring, enabling it to fulfil its mandate more effectively.
In related news, the Gauteng government continues to address the R15.9 billion debt associated with the discontinued e-toll system. After years of public opposition, the gantries for this project were deactivated in April 2024. The provincial government has committed to repaying 30% of the debt, while the national government will cover the remaining 70% over a five-year period.