Railways Africa NewsXpress: Week 05:2024
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Moody’s Confirms Transnet’s Ba3 Rating; Outlook Negative
Transnet issued a SENS note following Moody’s confirmation stating that: Noteholders are advised that on 25 January 2024, Moody’s announced its rating decision on Transnet’s credit ratings following its decision, on 10 November 2023, to place Transnet credit ratings on review for a downgrade. Accordingly, Moody’s has affirmed Transnet’s corporate family rating (CFR) of ‘Ba3’ and lowered the Company’s Baseline Credit Assessment (BCA), which is the Company’s standalone rating before Government support, to ‘b3’ from ‘b2’. Further, the global and national scale senior unsecured MTN programme (Medium-Term Note) ratings were affirmed at ‘(P)Ba3/A2.za’, the global and national scale subordinated MTN programme ratings were affirmed at ‘(P)B1/Baa2.za’, the senior unsecured and the backed senior unsecured ratings were affirmed at ‘Ba3’ and the national scale other short-term rating was confirmed at ‘P-1.za’. The ratings outlook was revised to negative from under review.
Ressano Garcia Line Derailment: Recovery Underway
Comoros: Project For The Development Of Maritime Corridor And Regional Trade Facilitation
The Ministry of Maritime and Air Transport of the Comoros has issued an Expression of Interest for consultancy services for detailed pre-project technical studies of the Moroni Port. This initiative, funded by a grant from the African Development Bank, aims to enhance the maritime corridor and facilitate regional trade. The deadline for submissions is 12 February 2024. Access Opportunity
Job opportunity – Zambia Railways Limited – MANAGING DIRECTOR
Zambia Railways Limited is inviting applications from strategic, visionary and focused Zambian nationals to lead the organisation into a dynamic and technologically advanced rail transportation hub in the region for the following position: MANAGING DIRECTOR
The Managing Director reports to the ZRL Board Chairperson and is answerable to the Board of Directors for the broad responsibilities of the implementation of the Corporation’s statutory mandates, strategic goals and the management of its resources.
Interested candidates should apply no later than 9th February 2024
Job opportunity – Zambia Railways Limited – FINANCE DIRECTOR
Zambia Railways Limited is inviting applications from strategic, visionary and focused Zambian nationals to lead the organisation into a dynamic and technologically advanced rail transportation hub in the region for the following position: FINANCE DIRECTOR
Interested candidates should apply no later than 9th February 2024
Equatorial Guinea and Ghana Accede to the Establishment Agreement for Afreximbank’s Fund for Export Development in Africa (FEDA)
The Fund for Export Development in Africa (FEDA), the development impact-focused subsidiary of the African Export-Import Bank (Afreximbank), has announced that the Republic of Equatorial Guinea and the Republic of Ghana have recently signed the FEDA Establishment Agreement.
New memberships are crucial to broaden the scope of FEDA’s interventions and its mission of delivering long-term capital to African economies with a focus on industrialization, intra-African trade and value-added exports.
Professor Benedict Oramah, President of Afreximbank and Chairman of the Boards of both Afreximbank and FEDA, said: “We heartily welcome the signing of the FEDA Establishment Agreement by the Republic of Equatorial Guinea and the Republic of Ghana. The signing of the FEDA Establishment Agreement lays the groundwork for an enhanced and more effective cooperation with better access to the full range of interventions offered by Afreximbank and FEDA. This milestone builds on the solid partnership already established with both Equatorial Guinea and Ghana. The aim is to support transformative investments in these countries in the near future.”
Former Transport Minister Dipuo Peters’ Suspension Upheld by Western Cape High Court
The Western Cape High Court has dismissed Ms Dipuo Peters’ urgent application to stop Parliament from implementing her suspension from her seat in all parliamentary debates, sittings, and committee meeting-related functions for one term of the parliamentary programme. Ms Peters will be placed on suspension commencing 30 January to 28 March.
In October 2023, after considering a complaint lodged against her, the Joint Committee on Ethics and Members’ Interests found that Ms Peters had breached the Code of Ethical Conduct in her former portfolio as Minister of Transport. As a result, Ms Peters was sanctioned and suspended for one term.
#UniteBehind leader and activist, Mr Zackie Achmat lodged the complaint with several allegations, including that Ms Peters “was neglectful in her previous portfolio as Minister of Transport by failing to appoint a Group CEO of the Passenger Rail Agency of South Africa (PRASA)”.
The complaint also alleged that the Member dismissed the Molefe Board, seemingly because it had uncovered R14 billion in irregular expenditure and instituted investigations into corruption at PRASA. It was also alleged that she used PRASA busses for ANC events during 2014 and 2015 without ensuring payment from the ANC, among others.
Following deliberations, the ethics committee found that the Member’s failure to appoint a Group CEO breached items 4.1.3 and 4.1.4 of the code, in that the Member failed to act on all occasions in accordance with the public trust placed in her; and discharge her obligations, in terms of the Constitution, to Parliament and the public at large, by placing the public interest above her own interests when she failed to appoint a Group CEO after the PRASA Board had commissioned a recruitment process, which resulted in a financial loss of R1 767 000.
Official Commissioning Of Sunline (Zambia) Siding, Chambishi Rail Spur
On January 29, 2024 – the Minister of Transport and Logistics Hon. FRANK TAYALI, MP, arrived in Kalulushi for the official Commissioning of the Sunline (Zambia) Siding, Chambishi Rail Spur.
Sun-Line International Logistics Group (referred to as Sun-Line Logistics) was founded in 2001 and is a contractor for overseas Engineering, non-ferrous resources, oil and gas and other industries.
Inaugural Technical Meeting with All American Group for Northern Railway Corridor Development
Caminho de Ferro de Luanda-EP (CFL) recently hosted the first technical working meeting with the All American Group (AARG) Business Group. This meeting, follows the recently announced Memorandum of Understanding (MoU) signed by Angola’s Ministry of Transport and AARG, focusing on the development of the Northern Railway Corridor.
The MoU involves the construction of a railway corridor that aims to connect Angola’s railway network to the Central African network via the Democratic Republic of Congo. This will be achieved by extending the Luanda Railway line to either Zaire or Uíge province in the north.
Held at CFL’s headquarters in Luanda, the meeting was presided over by CFL’s PCA, Dr. Manuel António KandaKanda. CFL expressed its commitment to collaborating with AARG in implementing the MoU, which aligns with various strategic documents, including the National Road Transport and Infrastructure Master Plan.
The meeting culminated in an agreement to establish an implementation schedule for March, outlining the initial phases of the project and collaborative actions required from both parties.
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