The New Development Bank (NDB) and South Africa’s national roads agency, SANRAL, have signed a ZAR7 billion loan agreement to fix and upgrade key roads across the country, according to the official statement. The deal, made official on July 22 in Johannesburg, will fund work along major freight routes. The main goal is to update South Africa’s transport system and help grow the economy.
Money from the loan will go toward widening highways, repairing bridges, and improving intersections. These changes should make travel faster and roads safer for both everyday drivers and businesses. Because the loan is in local currency, it protects against exchange-rate swings and matches SANRAL’s income, which comes in rand.
Good roads are essential for South Africa’s economy, making it easier for goods to move, tourists to travel, and people to find jobs. By updating the country’s road network, SANRAL hopes to lower travel costs and better link cities and rural areas. The project aims to spark job creation and open new opportunities for communities.
NDB’s Chief Financial Officer, Monale Ratsoma, said this agreement is about helping build strong infrastructure that benefits everyday life and the economy. SANRAL’s CEO, Reginald Demana, added that the funding is important for delivering safer, more reliable roads and supporting both economic growth and community needs.
This deal signals closer cooperation between NDB and South African partners. With these upgrades, both sides hope to build a safer, more connected future for drivers, businesses, and communities across South Africa.
