The South African National Roads Agency (Sanral) needs the government to decide on the future of electronic tolls in Gauteng province, as the coronavirus cuts its cashflow, the Sunday Times has reported.
“We’re having to scurry around to ensure our liquidity,” the Johannesburg-based newspaper cited Sanral CEO Skhumbuzo Macozoma as saying.
“Until you solve the the e-tolls problem we won’t get out of this quagmire.”
Macozoma said the decision on whether to keep the system or scrap it rests with President Cyril Ramaphosa’s cabinet.
Only about 20% of users are paying e-tolls, the Sunday Times said.
If cancelled, Sanral’s debt related to the Gauteng Freeway Improvement Project will jump from around R40 billion R67 billion.
South Africa’s lockdown to curb coronavirus cost Sanral more than R620 million, the Sunday Times said.
© 2020 Bloomberg L.P.
COMMENTS 1
You must be signed in to comment.
SIGN IN SIGN UP
SANRAL se push!
9
End of comments.