DBSA and Tshwane Rapid Transit pens R488 million deal - CNBC Africa

DBSA and Tshwane Rapid Transit pens R488 million deal

Southern Africa

by Trust Matsilele 0

DBSA and Tshwane Rapid Transit pens R488 million loan. PHOTOS: thecityfix/htxt

Tshwane Rapid Transit is an initiative of the City of Tshwane aimed at transforming the public transport sector and improving commuters’ experience of mobility.

The loan facility is part of an 800 million loan for the purchase of 171 buses for the A Re Yeng (meaning “let’s go”) Bus Rapid Transit (BRT) operations in Tshwane.

Tshwane Rapid Transit (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.

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Speaking at the signing, Tshokolo Nchocho, Group Executive for DBSA South Africa Financing said the transaction was 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,” said Nchocho.

“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.”

The service will also address 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.”

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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.

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.

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