TransNamib nears conclusion of N$2.6 Billion funding access

Chamwe Kaira TransNamib Holdings, the troubled state-owned railway company, is approaching the final stages of securing a loan agreement amounting to N$2.6 billion. This financial arrangement has been entered into with the Development Bank of Namibia and the Development Bank of Southern Africa. Abigail Raubenheimer, the spokesperson for TransNamib, conveyed that the company is currently in the last phases of planning and preparation. Several conditions need to be met by TransNamib in order to gain access to the funding, she explained to Observer Money this week. “Remaining committed to future objectives, TransNamib recognizes the pivotal role of rail transport in…