Kendal Siding

Project: Kendal Siding Investment
Location: Ogies, Mpumalanga, South Africa
Contract Owner: Sekwala Mining and Logistics
Project Value: R96 000 000
Investment: ~R5 000 000

Timeline:

  • Start date – April 2024

  • Projected Exit – June 2025

  • Revised Exit – September 2025

Synopsis


The Kendal Siding Investment is a rail‐throughput deal owned and operated by Sekwala Mining and Logistics. Transvaal VC committed close to R6 million into this R96 million project, targeting a MOIC of 1.696, ROI of 69.57%, IRR of 43.60% within 18 months. The operation began on April 1, 2024; as of June 1, 2025, it has been active for 14 months. Mining throughput and logistics services were scheduled to conclude in June 2025, but due to unforeseen hurdles the financial exit is set for September 2025.

Despite facing typical Transnet‐related setbacks—such as derailments caused by cable theft, infrastructure vandalism, and both scheduled and unscheduled maintenance—none of these issues have materially jeopardized projected returns. With coal deliveries and offloading proceeding as planned, the project remains on track to achieve its 60 plus % ROI within the contractual 18‐month window.

The Kendal Siding project is a strategic investment by Transvaal VC in Mpumalanga. This facility supports efficient coal transportation, boosts local economies, and connects to the rail network, ensuring reliable access to markets while prioritizing
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