Bakwena signed a 30-year Concession Contract with the South African National Roads Agency (SANRAL) in October 2000 to design, finance, build, operate and maintain the N1/N4 highway. The concession covers 385km of road, comprising a 90km section of the N1, running from Pretoria northwards to the town of Bela Bela, and a 295km section of the N4, which runs from Pretoria westwards to the Botswana border.
Bakwena successfully refinanced the debt of the Bakwena N1/N4 Toll Road Project which was the largest refinancing of an infrastructure project ever in South Africa. The funds were used to re-finance existing debt on more attractive terms which reflected the successful operation of the project. The refinancing was done through the collaborative efforts of Bakwena, its shareholders, SANRAL, the Company’s lenders and transaction advisors.
Bakwena offers thousands of motorists safer and more efficient roads, while assisting with roadside emergencies and collecting tolls. Bakwena was also the first company in South Africa to offer a system of Electronic Tolls Collection (ETC) via e-tags.