Sanral has blamed Covid-19 and uncertainties of e-tolls in Gauteng as toll revenue dropped from R4.3 billion to R3.7 billion in 20-21 financial year.
“Sanral has therefore included a budgetary transfer of R3.2 billion per annum over the Medium Term Expenditure Framework ending 2022-23 financial year to cover the shortfall on e-tolls.
The report said the material uncertainties on the future of GFIP as a going concern were expected to be mitigated through direct government support and feasible sources of financing.“The non-toll portfolio currently has a significant cash surplus of R27.2 billion, and is expected to remain cash positive well into the foreseeable future, due to the MTEF allocations and the spending patterns.
Sanral also said its cash flow projections showed that cash reserves for the toll portfolio remained cash positive until February 2022. According to the report, although there were material uncertainties on the toll portfolio, there were no significant doubts about going concerns of Sanral as a whole after considering the potential mitigation actions and the significant cash reserves.
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