South Africa’s state-owned airports operator, Airports Co. South Africa SOC Ltd. (Acsa), plans to raise about $569 million (10 billion rand) over the next year to fund its airport infrastructure program, the company’s chief finance officer said. The amount represents roughly half of the 21.7 billion rand ($1.2 billion) budgeted for capital projects in the next 12 months.
Acsa aims to secure long-term infrastructure debt instruments and loans with favorable terms, leveraging its improved financial position and strong relationships with banks and foreign lenders. Profit more than doubled to 1.1 billion rand in the year through March 2025, providing the company with strong borrowing capacity, CFO Luzuko Mbotya said.
The company currently holds 5.9 billion rand in cash reserves, which it plans to use to finance the remaining half of its infrastructure program. Projects include refurbishing its network of airports through 2032, with preparatory work already underway for a new cargo terminal at OR Tambo International Airport in Johannesburg, expected to cost 5.7 billion rand and be completed by 2028–29.
For the new financial year, Acsa has allocated 2.3 billion rand to refurbishment and rehabilitation projects, up from 727 million rand in the prior period. Other key upgrades include an extension of the domestic departure lounge at Cape Town International Airport, improvements to the main runway, and renovations to gates and the domestic arrivals terminal.
