South Africa News

National Treasury approves SANRAL for increased borrowing limits of about R16.5 billion

The National Treasury has approved the South African National Roads Agency (SANRAL) for increased borrowing limits.

This follows the government’s announcement on Wednesday that e-tolls will be officially scrapped on Friday morning.

SANRAL will now be in charge of maintaining national road networks in Gauteng.

The agency has resolved its long-outstanding application for increased borrowing limits from the National Treasury.

This was crucial in the government’s plans to do away with e-tolls.

It will essentially allow SANRAL to continue to approach the market to unlock funding from the private sector to fund its existing pipeline of capital expenditure projects.

“We have been given borrowing limits of about R16.5bn that we can go out into the market to supplement the cash we generate from other e-toll routes,” said SANRAL CEO Reginald Demana.

SANRAL has been appointed as the implementing agent who will oversee the maintenance of national roads in Gauteng – previously funded by e-toll revenue generation.

-EWN

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