Transnet Issues RFP After RFQ Attracts 14 Submissions for LeaseCo Rolling Stock Project

The RFP follows the completion of a request for qualification (RFQ) process launched in April 2025, which attracted 14 submissions.

Improving access to rolling stock

The proposed leasing company, known as LeaseCo, will be responsible for the acquisition, management and leasing of rolling stock to domestic and regional markets.

According to Transnet, the initiative is intended to address one of the key challenges facing the rail sector: access to reliable rolling stock.

The company will support both established and emerging train operating companies (TOCs) by providing access to locomotives and wagons required to operate freight services.

Transnet says improved access to rolling stock is expected to support freight rail operations, strengthen supply chains and encourage broader participation in the sector.

Private sector partner to support operations

LeaseCo will operate as an independently governed leasing entity.

Transnet will contribute a ring-fenced fleet of rolling stock assets as equity, as well as original equipment manufacturer (OEM) capabilities through Transnet Engineering.

The majority private-sector partner will provide capital, technical expertise and operational capability to revitalise, manage and expand the fleet.

Transnet Group chief executive Michelle Phillips said:

“Significant unmet freight demand, driven by a shortage of available rolling stock, presents a compelling opportunity for a dedicated leasing entity. LeaseCo represents a transformative initiative primed to modernise Africa’s rail system, mobilise private capital, and enhance the reliability of freight logistics. With the significant demand from TOCs, LeaseCo is well positioned as an appealing investment opportunity.”

Demand expected to grow

Transnet says it is already engaging newly licensed train operating companies to better understand their rolling stock requirements and has secured five TOCs for LeaseCo's services.

The company expects demand to increase as the Transnet Rail Infrastructure Manager (TRIM) allocates additional network slots to operators.

According to Transnet, the leasing company forms part of broader efforts to build a more competitive rail ecosystem, improve logistics performance and support economic growth.