Harare — Transnet is hunting for deals across the continent, from Senegal to Zimbabwe. The national port and freight-rail operator had drawn up a list of 18 African nations where it wanted to do business and was targeting at least five transactions in 2018, said Petrus Fusi, general manager for cross-border strategy. The state-owned company was also looking for opportunities in the Middle East, India and South Asia and wanted to boost revenue by more than half to R100bn, group executive for strategy Khaya Ngema said in the same interview. Transnet is seeking to expand outside SA and diversify beyond its traditional business of bulk commodities. The company, which already operates in other African countries including Mozambique and Botswana, set aside R20bn for acquisitions and could get as much as 25% of its revenue from outside SA within six years, CEO Siyabonga Gama said in 2016. "We want to move the company from a R60bn company to a R100bn company in the next three to four years,...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.