Temba Bavuma: We just didn’t pitch up today
Proteas captain Temba Bavuma has admitted that his team was outplayed by the Australians in the third and final One Day International, as they went down by a massive 276 runs.
“The state law adviser must give a legal opinion that it’s all sound; we expect that to come within the next two weeks,” Reginald Demana, the agency’s CEO, said at the signing of the loan agreement in Johannesburg on Tuesday. Finalisation is also contingent on foreign-exchange approvals from the South African Reserve Bank.
Sanral announced on Monday that it had concluded the accord with the bank, which the BRICS bloc of nations established in 2015 to fund infrastructure and sustainable-development projects in member countries and other emerging economies.
The agency will use the loan to fund the upgrade of four freeways at a cost of 12.7 billion rand as well as other projects.
The road agency failed to secure government backing for a guarantee for a loan from the lender in 2019. At the time, the National Treasury raised concerns about historic debt related to a road-tolling system that was instituted to fund freeways in the central Gauteng province. The government officially scrapped the system last year.
Following the resolution of the tolling matter, the state approved a 16.5 billion-rand debt cap for Sanral, the agency said.
“We still need to go to the market to raise additional funding,” primarily from domestic institutions, bond investors, banks and other development-finance institutions, Demana said.
“The NDB might also be interested in looking at more rand funding as part of that.”
Issued on Daily Investor by Bloomberg | https://dailyinvestor.com/south-africa/95094/south-africa-set-to-get-r7-billion-from-brics-bank-to-fix-its-roads/
