Yes, the Passenger Rail Agency of South Africa has debt that has remained unpaid for 30 days or more.
a) (i) Debt outstanding for more than 60 days:
a) (ii) 95% of debt is owed to Transnet. Discussions are ongoing between PRASA and Transnet to resolve the debt. 4% of debt is owed to other suppliers; some invoices have disputes that are in the process of clearing, whilst others have not have been paid due to cash constraints.
b) Debt is settled twice a month.
c) (i) Invoices are signed off by end user as confirmation that services were rendered
(ii) Invoices are loaded on system
(iii) Payments are made twice a month on invoices 30 days and older dependant on cash flow constraints, small suppliers is prioritised. Age analyses are scrutinised by CFO’s for reasons of non-payment.