Grindrod hikes dividend 84% as Maputo port benefits from SA's dysfunction
The Port of Maputo is enjoying a robust growth in shipping volumes as exporters struggle with neighbouring South Africa's congested terminals and inefficient railway systems.
The port shipped through a record 12.6 million tonnes of cargo in the year ended December, growth of 28%, helping JSE-listed Grindrod grow its core headline earnings 29% to R1.36 billion. This growth came mainly from mining cargo traffic diverted from South Africa's busiest ports of Richards Bay and Durban, with both railways and the ports themselves choking from operational failures. South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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