South Africa’s state-owned airports operator, Airports Company South Africa SOC Ltd. (Acsa), plans to raise approximately half of the 21.7 billion rand ($1.2 billion) it intends to invest in infrastructure upgrades over the next year, Chief Financial Officer Luzuko Mbotya said.
The company will tap long-term debt instruments and loans on favourable terms, leveraging its stronger balance sheet and growing interest from banks and global financiers, Bloomberg reported.
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Acsa’s net income more than doubled to 1.1 billion rand in the year through March 2025, and with cash reserves of 5.9 billion rand, the operator will finance the remainder of its 21.7 billion rand program internally.
The decade-long modernization initiative, running through 2032, aims to overhaul South Africa’s airport network and tackle years of underinvestment that have contributed to operational inefficiencies.
Among its flagship projects, Acsa has begun preparatory work on a 5.7 billion rand cargo terminal at Johannesburg’s OR Tambo International Airport, which is scheduled for completion in 2028–29.
Other planned investments include an extension of Cape Town International Airport’s domestic departure lounge, runway improvements, and upgrades to domestic gates and arrivals facilities.
For the current fiscal year, Acsa has allocated 2.3 billion rand to refurbishment and rehabilitation projects, more than triple the 727 million rand spent last year.
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Image Credit: Logistics Update Africa
