South Africa -Transnet III

The project supports the execution of the 2024-2029 Capital Investment Plan (CIP) of Transnet SOC Ltd (“Transnet” or “the Company”), which is South Africa’s state-owned freight transport and logistics company serving as the backbone of the nation's transport and logistics sector. The CIP is a strategic program which aims at repositioning the Company to attain sustainability by proposing a proactive and adaptive response to the infrastructure and operational challenges it is currently facing. As a first component of the CIP, Transnet is currently implementing a multi-tiered 18-month short term Recovery Plan (RP) designed to ensure immediate restoration of operational performance and volume recovery to meet current demands. Transnet’s anticipated investment in the CIP over the next five years will be allocated at 81.4% to maintenance capital expenditures and operational enhancements, while 18.6% will be directed towards network expansion initiatives. The RP started in October 2023, and is focusing on accelerating the implementation of key actions to address the most urgent issues impacting Transnet’s operational performance. It includes tactical initiatives to drive volume recovery and enhance performance of operations across the company.