The Government Employees Pension Fund, which holds 50 percent of the Sanral’s issued debt, is not unduly concerned about the agency’s potential debt servicing difficulties, Business Day reported on Thursday.
On April 28 the SA National Roads Agency Limited’s plans to introduce e-tolling were halted by a last-minute court ruling.
According to the fund’s acting principal officer John Oliphant, although the fund held R15 billion in Sanral bonds, this represented only 1.5 percent of its total assets.
Oliphant, with other senior executives, was briefing Parliament’s portfolio committee on finance on Monday.
The bond market had hardly responded to the e-toll ruling, the daily reported.
Leon Myburgh, Citi’s sub-Saharan Africa strategist, told Business Day: “I don’t think the market is paying too much attention. Because there is a government guarantee, I think the market looks at it and says, ‘If Sanral doesn’t pay up, government will.'”
Recent reports have also uncovered a connection between SANRAL and the British and Swedish companies already implicated in the South African arms procurement scandal.
Gauteng’s e-toll registration outlets were empty on Thursday with virtually no-one registering for e-tags, despite the looming April 30 deadline, when the tolls go live.
The bright orange e-toll registration outlets, operated by the SA National Roads Agency Ltd (Sanral), are in shopping malls and alongside highways across Gauteng for motorists to register for discount toll fees.
Yet, despite being staffed with between three to five cashiers and a branch supervisor, outlets had no customers. At one, a cashier was painting her nails while another was reading a magazine.
Some outlets also had self-help computers for those who didn’t need direct help, flat screen televisions sets and comfortable chairs in anticipation of the queues.
At Maponya mall in Soweto, human resources consultant Tshepo Tsotetsi was the only registration in an hour.
“I registered my wife and myself with a heavy heart. I don’t want to break the law and I use the highways all the time getting around for work,” he said.
“But I didn’t do it in good faith.”
At the same mall Bafana Mkhabela took an e-toll registration brochure.
“I use my mom’s car to get to college in Centurion and, although I don’t want to register, she thinks I should,” the third-year computer student said.
“It’s going to cost our family a lot though, because I go through four tolls just to get to college.”
At Cresta centre in Randburg, the e-toll outlet was empty, despite three cashiers waiting for customers. Businessman Tertius Barnardt, who uses the post office next door daily said he had never seen anyone inside.
“Yesterday I took a pamphlet from a woman handing them out at a traffic light,” he said, “she was so delighted and surprised that I was even prepared to take one.”
Barnardt said he was still unsure if he would register.
“In Gauteng, we are up to our necks in fees and taxes,” he said, “and where is the money for this going to go?”
Lwando Malotana, a training consultant from Randpark Ridge, said he was hoping the whole project would be scrapped before he had to register.
“I watched what happened with the national strike in March and I have been following the debate with interest,” he said, referring to the protest against e-tolling by trade union federation Cosatu.
“I will wait and see and maybe register just before the tolls go online.”
San Ridge Square in Midrand was busy on Thursday, the parking area full, but the e-toll outlet empty. This area would be heavily affected by the e-tolls on the N1, which links the area with Johannesburg and Pretoria. At this e-toll outlet, five staff chatted with each other to pass the time.
Stephen Maupi, a credit controller for a cellphone company, said he commuted from Randburg to his office in Midrand, and constantly moved around Gauteng visiting stores.
“In South Africa these things are proposed and then we just have to pay. I would like to know more about this Austrian company that has been involved with the e-tolls and where the money from all of this is going to go.”
Michael Mafagane, a maintenance worker commuting weekly from Pretoria to Midrand, said he welcomed the move to exempt public transport from e-tolls.
“There are a lot of cars with just one person in them driving on this highway. Maybe it’s time people started using public transport to save on e-toll fees. This is one way of cutting down the traffic on our roads.”
At Benmore shopping centre, three cashiers watched the clock until going-home time. The mall was busy but no-one was at the e-toll outlet.
Douglasdale retiree Robin James had no intention to register for the e-toll.
“If the authorities can’t get an electricity bill right, why would I give them access to my bank account for the e-toll?” he asked.
“No, we have had enough. They (Sanral) can send me a bill. If they can find me.”
Live testing of Gauteng electronic toll transactions for road users with e-tag accounts would start this week, the SA National Roads Agency Limited (Sanral) said on Tuesday.
“Road users who have registered for Gauteng e-tolling and fitted an e-tag to their vehicles are advised that their e-tags will start beeping as they pass underneath toll gantries on the Gauteng e-road network,” it said in a statement.
Starting on Thursday the test would be run in phases, which meant not all toll gantries would be switched on simultaneously.
“During this test phase, no funds will be deducted from road users’ accounts.”
Sanral said the e-tags would emit a single beep, an indication that transactions for that particular user would have been successfully processed. If more than one beep, or no beep at all was heard when passing beneath a gantry, motorists should contact the e-toll call centre on 0800-726-725, or visit an e-toll customer service outlet. This could mean a problem with their e-toll account, or the fitting of the e-tag.
The same beeping would occur when registered Gauteng e-road users drove on the Bakwena toll road north of Pretoria.
“The beeping on the Bakwena toll road is also part of this test phase, meaning the road users’ accounts are not yet active and no funds will be deducted.”
When tolling started on April 30 e-tags would emit three types of beeps — one if the transaction was successful, two if the funds in the e-toll account were low, and four or none at all when a transaction failed.
Sanral said in these cases the road user needed to contact the e-toll call centre or visit an e-toll customer service centre.
“Road users are reminded that the e-tag is optional and also entitles them to various discounts on their toll tariffs, including the 48 percent e-tag discount.”
Frequent user discounts and the R550 monthly toll fee cap would also be available to motorcycles and light motor vehicles fitted with an e-tag.
“In addition to all the efforts that have been made to lessen the impact of the toll tariffs on road users, Sanral will ensure that the testing phase is non-disruptive to road users.”
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