TRANSNET CORPORATE LOAN III (AFDB-P-ZA-DC0-002)

Countries
  • South Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 5, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Transnet International Holdings (TIH)
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2,147.48 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2,147.48 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Jan 31, 2019


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Project Description

According to bank documents, the investment involves a third corporate loan to Transnet in the Republic of South Africa to support their 5 years investment plan and the 4.0 strategy. The strategy is focused on repositioning the country's freight system for competitiveness within the fast changing, technology-driven context of the 4th industrial revolution. Transnet effort is directed towards increasing the connectivity and the capacity of the integrated port, rail and pipeline network and expand South Africa's footprint on the continent through Transnet International Holdings (TIH).

Investment Description
  • African Development Bank (AFDB)
Private Actors
Contact Information

EL GAZZAR Ahmed Mohamed

*Further contact details not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.