[LISTEN] ETC says scrapping e-tolls could be devastating for the economy

6 September 2018 9:07 PM

The company contracted by Sanral to collect e-tolls Electronic Tolling Collections says scrapping e-tolls would be devastating to the province’s development and the country’s economy.

This week Transport Minister Blade Nzimande confirmed "extensive discussions" are under way as the African National Congress (ANC) in Gauteng seeks to scrap the system.

READ: Conference has taken a firm decision to scrap e-tolls - Panyaza Lesufi

Nzimande has made it clear that a decision to scrap e-tolls has not been made.

Gushwell Brooks, standing in for Karima Brown, spoke to the ETC's Chief Project Officer, Coenie Vermaak to get his take on the matter.

What we understand today is that Sanral borrowed initially about R22.5 billion through bonds to finance the construction of the Gauteng Freeway Improvement Project...effectively what will happen when the project gets scrapped is there is no income and that will breach certain governance within Sanrals agreements with the lenders and immediately the R22.5 billion that became in total around R40 billion that we are aware of will become payable virtually immediately...
— Coenie Vermaak, Chief Project Officer at ETC

...that will drive the economy even further south and possible risk a further downgrade.
— Coenie Vermaak, Chief Project Officer at ETC

Click on the link below to listen to the full conversation...

Written by: Neo Koza

[LISTEN] EC House of Traditional Leaders 'outraged' at deaths of initiates

24 June 2019 10:09 PM

Three deaths were reported last week.

[LISTEN] #Sona2019: 'A lot of dreams and not many concrete steps'

20 June 2019 9:39 PM

DA Chief Whip John Steenhuisen and other opposition parties react to President Cyril Ramaphosa's State of the Nation Address.

'Less motorists are paying e-tolls since ANC Gauteng announcement'

7 August 2018 5:45 PM

The Gauteng Open Road Tolling Project says the comments by the ANC have had a significant impact on payments.

[LISTEN] Conference has taken a firm decision to scrap e-tolls - Panyaza Lesufi

23 July 2018 9:42 PM

The newly elected deputy chairperson of the ANC in Gauteng joined Karima to discuss the provincial leadership's key priorities.

Maimane to fight petrol hike, says ANC is using it to fund e-tolls

6 June 2018 4:16 PM

From Wednesday, motorists are paying up 82 cents more for a litre of petrol while diesel has gone up 85 cents.

Motorists who default on paying for E-tolls in danger of losing their license

4 April 2018 7:57 AM

Thousands are in danger of losing their licenses, should the law relating to the amended AARTO Amendment Bill come into effect.

You made a huge mistake downloading FaceApp if your privacy is important to you

18 July 2019 8:22 PM

Washington Post technology columnist Geoffrey A. Fowler did a forensic analysis of the Russia-based app. Check it out.

'I would take the Prosus shares (25%) as well as Naspers (75%) shares'

18 July 2019 8:20 PM

Should Naspers shareholders take up Prosus shares? Bruce Whitfield interviews personal finance advisor Warren Ingram.

Woolworths (at R40 a cup!) makes the best takeaway hot chocolate in South Africa

18 July 2019 7:43 PM

Seattle Coffee Company has the worst takeaway hot chocolate in the country, according to, uhm, "research" by Chaos Theory.

Old Mutual and Trevor Manuel are victimising Peter Moyo - Advocate Dali Mpofu

18 July 2019 6:35 PM

The Money Show's Bruce Whitfield interviews TJ Strydom, a journalist at Business Day and author of Christo Wiese’s biography.

How to buy a new car even if you don’t really have enough money for it

17 July 2019 8:21 PM

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

The rand isn't weak. It's the dollar that's strong. But it won't stay that way

17 July 2019 7:11 PM

The rand is trading at fair value. It’s the US dollar that's overvalued. Bruce Whitfield interviews George Glynos (ETM Analytics).

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

17 July 2019 6:23 PM

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).

I decided to make this Rihanna song with my maskandi vision - Mbuzeni Mkhize

15 July 2019 10:35 AM

After South African star Mbuzeni Mkhize performed a remix of Rihanna's track 'Diamonds' she contacted him to collaborate with her.

702 Music withNonn Botha