Is Transnet the next Eskom?
The state-owned logistics company is lurching from crisis to crisis — at enormous cost to the economy
If Eskom is the beating heart of the SA economy, then Transnet is the spine. And that’s a deeply concerning thought considering both are in a perilous state.
Eskom has been on life support in the form of government bailouts for years now. Transnet was not very long ago a rose among the thorns that are SA’s parastatals. It is one of the few state-owned entities to generate a profit — R3.9bn year-ended March 2020, though that was a 34% slide from 2019 — and it was voted top employer three years in a row...