• ACTis has not raised any flags for the GMA but placed three under monitoring.
• The high value of the Gautrain concession poses a potential risk for corruption in the award of the new concession.
• The GMA has achieved 13 consecutive clean audits despite ridership shortfalls and early, unsubstantiated corruption claims. This highlights the risks such projects can face.
• Continued low ridership could jeopardise the project’s viability and impose a sizeable financial burden on the Gauteng Provincial Government, requiring close monitoring.