Outgoing Transnet managing director Saki Macozoma has ruled out any possibility of returning to full-time politics when his contract expires with the transport company next year. Macozoma, who announced last week that he will not seek renewal for his contract, this week said he was looking at spending most of his time at Standard Bank Investment Corporation. “I have made a commitment too the Stanbic group to devote a minimum 30% of time in their operation,” said Macozoma. “We are in the process of discussing what that would mean in terms of practical engagement.” Macozoma had been tipped to take over the transport ministry following the retirement of Mac Maharaj in June 1999. The speculation was boosted by his nomination to the African National Congress national executive committee during the party’s national conference in Mafikeng in December 1997.
This week Macozoma was, however, modest about his prospects in politics, preferring instead to pledge his cooperation with the ANC leadership. Macozoma steered Transnet to prosperity even though this involved open clashes with former comrades in the union movement and axing some top executives. Macozoma is also non-executive chair of MTN, co-chair of Business Trust and chair of the South African Tourism Board.