Transnet’s acting CEO Siyabonga Gama said the South African rail and ports operator will seek funds for expansion from local investors, avoiding offshore debt markets after the rand plunged to a record. The state-owned company plans to raise R10.5 billion in debt including bonds before the end of the 2016 fiscal year, having obtained R17.3 billion since April 1, Gama said in a September 10 interview at Bloomberg’s offices in Johannesburg.
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