Streaming issues? Report here
money-show-thumbnailjpg money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: The Aubrey Masango Show
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00
Home
arrow_forward
Politics

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

6 September 2018 9:07 PM
Tags:
Electronic Tolling Company
ETC
e-tolls

This week Transport Minister Blade Nzimande confirmed "extensive discussions" are under way and that no decision has been made.

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...


6 September 2018 9:07 PM
Tags:
Electronic Tolling Company
ETC
e-tolls

More from Politics

Former Eskom CEO Brian Molefe

That he found money in my bag doesn't mean I got it from Guptas - Brian Molefe

14 August 2020 1:31 PM

The former Transnet CEO has denied the allegations and says he looks forward to appearing at the commission to give his side.

Share this:
Read More arrow_forward

Mine mineworker mining gold platinum coal 123rfbusiness 123rf

'Widows of those killed days before Marikana massacre also waiting for justice'

14 August 2020 7:40 AM

EWN assignments editor Gia Nicolaides says days before the infamous massacre, 10 people were killed.

Share this:
Read More arrow_forward

fuel-tank-petrol-car-motorist-driving-driver-refuelling-123rf

'Govt can't simply be a spectator if fuel retailers to survive drop in sales'

13 August 2020 6:50 PM

Namibia's government assisted Covid-hit retailers, but SA doesn't understand how the industry works says Reggie Sibiya (FRA CEO).

Share this:
Read More arrow_forward

d1hsq8kwwaaxresjpg

'ANC executives, please, you have messed up. Get out,' says Bantu Holomisa

13 August 2020 6:08 PM

United Democratic Movement leader Bantu Holomisa has proposed that there be an interim government.

Share this:
Read More arrow_forward

Cyril Ramaphosa

Speculation rife that President Cyril Ramaphosa will address the nation

13 August 2020 4:11 PM

The president is expected to address the nation on developments in SA's risk-adjusted strategy to manage the spread of COVID-19

Share this:
Read More arrow_forward

Mine mineworker mining gold platinum coal 123rfbusiness 123rf

Marikana massacre: 'Still no accountability for mineworkers killed 8 years ago'

13 August 2020 1:22 PM

EWN reporter Theto Mahlakoana gives an update of a commemorative webinar dedicated to miners who died in Marikana.

Share this:
Read More arrow_forward

Cyril Ramaphosa

Is Ramaphosa ready to announce Level 2? What an economist would like him to say

12 August 2020 6:51 PM

The Money Show's Bruce Whitfield interviews Kevin Lings, chief economist at Stanlib Asset Management.

Share this:
Read More arrow_forward

Public Protector Busisiwe Mkhwebane. Picture: Abigail Javier/EWN

PP takes Parliament to court over bid to remove her, calls bid unconstitutional

12 August 2020 1:09 PM

News24 parliamentary reporter Jan Gerber reflects on the court case between Busisiwe Mkhwebane and the National Assembly.

Share this:
Read More arrow_forward

Out of business 123rf 123rfbusiness 123rflifestyle

R200b Covid-19 loan scheme's paid out only R13b. Can a makeover get it to work?

11 August 2020 8:48 PM

Since it launched in May, the scheme's helped only 6.6% of businesses it targets. Will recent changes lead to improvement?

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

Eskom pensioners receive Covid 19-relief bonuses totalling R104m

11 August 2020 7:25 PM

The Money Show's Bruce Whitfield interviews Eskom's Linda Mateza about the once-off payment to its pensioners.

Share this:
Read More arrow_forward