DBSA and Tshwane Rapid Transit seal a R488 million loan agreement
DBSA and Tshwane Rapid Transit seal a R488 million loan agreement

​Bukeka Mahlutshana, CEO of TRT and TP Nchocho GE:SA Financing at signing ceremony

DBSA and Tshwane Rapid Transit seal a R488 million loan agreement

​The DBSA has signed a R488 million loan with the Tshwane Rapid Transit (Pty) Ltd (TRT) as part of a R800 million loan for the purchase of 171 buses for the A Re Yeng (meaning “let’s go”) Bus Rapid Transit (BRT) operations in Tshwane. TRT will be the bus operator for Phase 1 of the City of Tshwane’s Integrated Transport System.
 
The project is part of a national programme of 13 RT projects in different cities and towns, meant to improve the public transport system across the country and to limit current challenges associated with road capacity, road safety and road congestion.
 
Speaking at the signing, T.P. Nchocho, Group Executive for DBSA South Africa Financing said “This transaction is part of DBSA’s investment in the public transport sector to ensure the migration of South African cities into efficient, safe, and green transport systems. The DBSA, in partnership with the National Department of Transport and 13 cities approved to launch BRT services in South Africa, will roll out more of these projects”.
 
The project is aimed at redressing past inequities to create a better life for all by addressing lack of an integrated transport system in the City including safety concerns about the existing transport system; historical legacy of apartheid spatial planning where the poor were forced to live furthest from work; long travel times through serious congestion and difficult transfers; inaccessibility of public transport for people with disabilities, the aged and the infirm and inadequate historical investment in public transport, which has meant that both existing infrastructure and fleet are in an unacceptable poor condition.

“The City of Tshwane is proud of the landmark partnership between DBSA and TRT. TRT will be owned by affected operators within Tshwane who come from the taxi and bus industries. The Chairman of TRT, Abnar Tsebe, said the taxi and bus industries in Tshwane are in full support of A Re Yeng and are working very closely with the City of Tshwane to ensure that Tshwane provides the best model of BRT in the country.
 
It is envisaged that the buses will start operating from November 2014.
 

ENDS
 
Issued by: Development Bank of Southern Africa in conjunction with Tshwane Rapid Transit
 
For Tshwane Rapid Transit
Name: Bukeka Mahlutshana
Email: Bukekam@tshwanetransit.net
Contact details: 012 323 1754
 
Notes for Editors
About Development Bank of Southern Africa
The Development Bank of Southern Africa (DBSA) is one of the leading Development Financial Institutions (DFIs) in South Africa and Southern Africa. The DBSA provides financing, project preparation and implementation support in South Africa and the rest of the African continent to improve the quality of life of people in support of economic growth and regional integration. DBSA is integrated across product markets, sectors and clients and delivers synchronised infrastructure solutions.
 
 
About TRT
Tshwane Rapid Transit (Pty) Ltd is an initiative of the City of Tshwane aimed at transforming the public transport sector and dramatically improve commuters’ experience of mobility.
 
TRT was established as the City of Tshwane’s bus operator in 2012 by its Mayoral Committee. It was established as a corporate legal entity in terms of the Companies Act 71 of 2008, as amended, responsible for rapid bus operations services within the City of Tshwane and surrounding areas.
 
The principal way in which Tshwane seeks to transform road-based public transport services is through the BRT concept which is a high-quality road-based transit system that delivers fast, comfortable, and cost-effective urban mobility through the use of segregated right-of-way infrastructure, rapid and frequent operations, and excellence in marketing and customer service.
The shareholders of TRT are taxi and bus operators on routes serviced by private buses and taxis, known as Affected Operators, through shareholding equivalent to their market share. This structure of TRT is unique in South Africa in that the ownership of the company vests in the Affected Operators. TRT is managed as an independent corporate entity.
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