Crime syndicates hitting South African SOEs, such as Transnet and Eskom, are crippling the country’s economy. Here are the latest incidences.
Transnet says that sabotage and the derailment of its locomotives cost the South African economy R1 billion a day as it tries to clear 5,500 tonnes of coal and assess the damage.On Tuesday , a train carrying export coal from Mpumalanga to Richards Bay was derailed near Ulundi – which prompted the freight rail company to investigate the matter as it was “extremely concerned about disruptions to its operations”.
This latest cost to the country comes shortly after prolonged strike action at Transnet over wage disputes crippled South Africa’s export industry. According to data cited by the South African Association of Freight Forwarders , supply chain logistics delays have cost the economy between R100 million and R1 billion each day, but the overall cost “is substantially greater than that.”In addition to the 12-day strike over wage disputes, Transnet also said that c– further hobbling a service that has already cost exporters billions in rands.
As Eskom has reported similar issues, Transnet is not the only SOE being robbed by these crime syndicates.
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