Mail & Guardian
Mail & Guardian
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Transnet is falling well below its target of shifting 200 million to 220 million tonnes of freight a year, at which point — it is estimated — it will begin to make a meaningful contribution to the economy. Its current target is 170 million tonnes a year. Photo: (Karel Prinsloo/Bloomberg)
AUDITOR GENERAL

Debt-ridden Transnet needs to improve operations, auditor general warns

The state-owned company cannot continue relying on debt for operating cash and was at risk of not meeting repayments at the present rate

  • Emsie Ferreira
5 min read
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
PRAVIN GORDHAN

Transnet records R5.7bn loss

Public enterprises minister Pravin Gordhan said the company only achieving 26.3% of its targets was ‘unacceptable’

  • Lyse Comins
6 min read