South Africa
Sanral can't meet financing obligations─── 16:00 Thu, 29 Oct 2020
The SA National Roads Agency is unable to meet its financing obligations and will not generate sufficient cash from its toll portfolio to settle operational costs and debt redemptions falling due in March and September 2021.
This was confirmed in the Medium-Term Budget Policy Statement released on Wednesday, which reported that Sanral has incurred annual average losses of R2.5 billion since 2014/15.
It said Sanral had used R39 billion of its total government guarantee of R37.9 billion as at March 31, 2020 and over the medium term is expected to repay R10.7 billion of maturing debt obligations and R10.8 billion of interest payments.
Moneyweb
