SA economy suffers as congestion at Cape Town’s port worsens
The Covid-19 outbreak has exacerbated problems caused by Transnet’s ageing and out-of-service infrastructure
SA importers and exporters have been left frustrated and fearing huge losses due to operational issues at the port of Cape Town which have delayed the processing of cargo.
This is a blow to SA’s economy, which is in desperate need of foreign currency earnings with state finances taking huge strain as a result of the Covid-19 crisis. It is not clear how much the economy could lose due to the delays at the ports and borders, but international trade represents about 59% of SA’s GDP. The country shipped close to R2-trillion of goods in 2019...