By: Hertha Ekandjo
TransNamib is in the process of appointing a Lender’s Technical Advisor to facilitate the finalisation of the N$2.6 billion loan it secured from financial institutions two years ago.
The state-owned rail operator secured nearly two years ago with the Development Bank of Namibia (DBN) and the Development Bank of Southern Africa (DBSA) for the loan facility concerned.
However, TransNamib has not been able to finalise this agreement on time because it needed to satisfy several conditions in order to get access to the funds.
TransNamib’s chief executive officer Webster Gonzo said the appointment of a lender’s Technical Advisor is crucial and would help the entity finalise the deal.
During a media conference by the Ministry of Works and Transport, Gonzo, underscored the urgency of progressing swiftly and ensuring that drawdowns are executed within the current year.
The debt facility announcement was made in early 2022.
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