Transnet faced intense scrutiny in Parliament as MPs raised concerns about rising debt, weak governance and persistent audit failures in spite of signs of recovery
Transnet is currently appealing a court ruling which dismissed its urgent application to compel Gijima to complete critical data migration following the expiry of a R1.5 billion contract
Gigaba appeared in court alongside four former Transnet executives, with prosecutors alleging he accepted undisclosed cash from the Gupta family while tender processes were irregularly steered in their favour
Gigaba said his conscience was clear regarding his conduct in office as minister of public enterprises
In its budget review, the treasury flagged Transnet’s high debt levels, saying it needs to make faster progress on its plan to improve operations and finances
The new rubber-tyred gantry cranes and straddle carriers will boost efficiency at the port, Transnet chief executive Michelle Phillips said
Instead, Finance Minister Enoch Godongwana promised steps to ease the requirements for public-private partnerships
But Transnet says the dust falls below legal limits
The state-owned company cannot continue relying on debt for operating cash and was at risk of not meeting repayments at the present rate
Total and Sasol litigation has ballooned the logistics operators’ losses, but executives have set a target for profit in 2024/5