An update from Transnet reveals that while they have made progress in their rail, port, and financial performance, they still have some ways to go.
State logistics group Transnet, says that, although there has been an uptick in the volume handled by its railways and ports and its revenue, these improvements still fall short of its self-set recovery goals.
Important to note is that these are preliminary estimates and the official audited year-end financial results are yet to be released. According to Transnet chairperson, Andile Sangqu, although Transnet is “not out of the woods yet,” these results mark a “significant improvement” in the SOE’s rail, ports and balance sheets.
Sangqu said that this improvement, albeit modest, can be attributed to changes in the legislative and regulatory regime in which the company operates, as outlined by the This is proposed to be done by selling rail slots on its network to third parties or private sector players, allowing them to introduce their electric locomotives, independently rail their goods to markets, and move traffic off-road and onto rail.
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