insert_link South Africa Former Transnet executives granted bail Photo: Daily Maverick Four former Transnet executives have each been granted bail of R50,000 by the Palm Ridge Specialised Commercial Crimes Court in Gauteng. They face serious charges that include corruption, fraud, and money laundering in connection with a R93 million locomotive tender from 2015, part of a broader R54 billion deal tainted by ties to the Gupta family network. The accused are former Transnet CEOs Brian Molefe and Siyabonga Gama, former […] today1 July, 2025
insert_link Business / Economics 05 February: Morning Business News Update Here are the key financial developments making waves in the markets: Namibia Repo Rate Prediction: A local economic analyst predicts a decrease of 75 basis points in Namibia's repo rate during the 2025 financial period. Max Rix, a senior analyst at Simonis Storm Securities, shared his outlook with NewsOnOne, forecasting a 3.8% GDP growth for the same period. The forecasted rate cut reflects expectations of a more accommodative monetary […] today5 February, 2025
insert_link Business / Economics The DA says the port of Cape Town is facing major operational challenges To South Africa, where the DA says the port of Cape Town is facing major operational challenges, warning these issues could severely impact the upcoming fruit export season. According to the party, the port, managed by Transnet, missed key targets in July and August, including container movements and ship turnaround times. The DA’s Noko Masipa urged Transnet to fast-track private sector involvement to boost efficiency and prevent disruptions that harm […] today23 October, 2024
insert_link South Africa RISE Mzansi Welcomes Ramaphosa’s Reassignment of State-Owned Enterprises to Relevant Ministries In S.A, RISE Mzansi has welcomed president Cyril Ramaphosa’s decision to assign shareholder responsibility for each of the state-owned enterprises that previously fell under the soon-to-be-defunct Department of Public Enterprises. Eskom will now fall under the Electricity and Energy minister, South African Airways and SA Express both fall under the Transport minister, and Denel with the Defence minister. RISE Mzansi’s, Makashule Gana, says they are now calling for the finalisation […] today27 August, 2024
insert_link South Africa Nedbank South Africa has rejected claims by the Special Investigating Unit and Transnet over rate swap transactions Nedbank South Africa has rejected claims by the Special Investigating Unit and Transnet over alleged 2.7-billion-rand interest rate swap transactions for one-thousand-and-64 locomotives. The case risks erasing 20-percent of Nedbank's 2023 earnings. SIU spokesperson Kaizer Kganyago told the SABC the swaps, linked to state capture between 2015 and '16, should be voided: today30 July, 2024
insert_link South Africa City of Cape Town says Transnet must expedite private sector involvement in the port operations The City of Cape Town says Transnet must expedite private sector involvement in the port operations, and the development and maintenance of a liquid bulk terminal at the Port of Cape Town. Mayoral committee member for Economic Growth, James Vos, says the port’s performance impacts a diverse range of critical products, from agricultural goods to high-value exports like wine and seafood: today29 July, 2024
insert_link Business / Economics Transnet Suspends Operations at Several South African Ports Due to Severe Weather South Africa's logistics firm Transnet announced on Tuesday that it had suspended operations at some ports due to strong winds and waves affecting parts of the country. According to Reuters, the coastal regions, particularly the Western Cape, have faced disruptive rains and violent winds since Sunday. Transnet, already dealing with port backlogs from under-investment in equipment and maintenance, said operations at four of its seven ports—Cape Town, Saldanha, Port Elizabeth, […] today10 July, 2024
insert_link Business / Economics South African freight forwarders association highlights efforts after poor port report rankings By Oliver Ochieng, bird story agency The Southern African Association of Freight Forwarders (SAAFF) has raised concerns over a recent report which assessed over 182,000 vessel calls, 238.2 million moves, and 381 million TEUs in 2023 in an index highlighting performance of ports globally. The Container Port Performance Index (CPPI) 2024, released by the World Bank and S&P Global on June 4, placed several […] today24 June, 2024
insert_link South Africa SA’s Cabinet Applauds Sasol and Transnet’s Rail Partnership for Enhanced Transport Reliability sasol South Africa's Cabinet has expressed approval for the public-private partnership between Sasol and Transnet, aimed at improving the reliability of rail transport. Under the agreement, Transnet Freight Rail will utilize its fleet of 128 ammonia tankers to transport ammonia from Sasol's facilities to customers. In exchange, Sasol will fund the maintenance and repair program for the fleet over five years. Minister in the Presidency Khumbudzo Ntshavheni highlighted the significance […] today1 March, 2024
