Transnet gets R51 billion bailout

[BusinessTech]

Transnet gets R51 billion bailout

South Africa’s transport and finance ministries have approved a R51 billion guarantee facility to Transnet SOC Ltd., the nation’s struggling rail and ports operator. The facility is effective immediately to support Transnet’s “capital investment program and to enable it to meet its debt obligations,” the transport ministry said in a statement Thursday. Transnet in its

 

[Jam Sandwich]

ja jong....
Gooi the money at it...

 

[ShaunSA]

The struggle is real

 

[Avbob se stoep]

Just fking sell Transnet at this point, its a money pit and run like a zoo..

 

[Kung Fu Porkchop]

R51 billion gets looted through Transnet

FTFY

 

[karnuffel]

this is a prefect example of throwing money at a problem without addressing the root cause.

 

[Quicks]

WTF? What happened to no more bailouts!

I don't understand how they not profitable? They should be swimming in the money.

Too many ANC cadre's again eating all the money?

 

[Mike Hoxbig]

Did they even receive a credible plan before throwing money at them?

 

[Pegging]

WTF? What happened to no more bailouts!

Stop saying bailouts please. That is right wing misinformation.

This is for capital expenditure and debt payment.
It is not a bailout.

 

[Bad Ballie]

Stop saying bailouts please. That is right wing misinformation.

This is for capital expenditure and debt payment.
It is not a bailout.

I really hope you are being sarcastic