Gauteng’s New Tolls: 85% Goes To The Austrians

21 Feb 2011 by Jasmine Stone in Economics, News24, Traditional Press

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In 1938, Austrian freedom hater, Adolph Hitler, marched into Austria to rapturous applause. The Austrians were fine with this. After all, he was Austrian, they were Austrian – it sort of made sense. But then he tried the same trick in 1939 in Poland, and the reception was icier.

I feel kind of icy towards the possibility that out of every Rand made from the new open road tolling system in Gauteng; 85 cents ZAR could wind up in the hands of a bunch of Austrians.

According to City Press:

• Kapsch TrafficCom, the Vienna-based company, effectively owns 85% of Electronic Toll Collections (ETC), a local joint venture company that was awarded the R6.2bn tender to design, build and operate Gauteng’s new e-tolling system; and

• The black economic empowerment (BEE) stake in the project diminished by more than 50% after the tender was awarded to ETC.

Read more on the situation here.

[Source News24, City Press]

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