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 […] todayAugust 27, 2024 10
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: todayJuly 30, 2024 10
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: todayJuly 29, 2024 6
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, […] todayJuly 10, 2024 7
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 […] todayJune 24, 2024 32
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 […] todayMarch 1, 2024 26
insert_link South Africa Transnet Welcomes Michelle Phillips as New CEO and Nosipho Maphumulo as CFO South Africa's Public Enterprises Minister, Pravin Gordhan, has appointed Michelle Phillips as the new CEO of Transnet. With over 20 years of experience at the state-owned entity, Phillips previously served as the acting CEO following high-level resignations last year. Additionally, has been appointed as Transnet's Chief Financial Officer. Minister Gordhan expresses confidence that these appointments will steer the entity strategically and facilitate the execution of ongoing reforms, according to department […] todayFebruary 29, 2024 8
insert_link South Africa Load shedding & Transnet caused huge losses – SA Budget 2024 National Treasury plans to draw down from a special R500bn account for the first time to reduce debt and associated servicing costs over the next three years, according to the 2024 budget delivered by the finance minister on Wednesday February 21 2024. todayFebruary 21, 2024 8
insert_link South Africa Democratic Alliance in South Africa Raises Concerns Over State-Owned Enterprises’ Financial Woes The DA in South Africa expresses distress over the financial challenges faced by state-owned enterprises following the National Treasury's release of the third-quarter government expenditure report. Eskom, set for a substantial bailout, reports a significant loss, while municipal debt rises sharply. Troubled entities include the Land Bank, South African Airways, Transnet, and Denel. The DA warns against the ANC's bailout strategy, citing potential threats to fiscal sustainability, essential services, and […] todayFebruary 15, 2024 24
