Transnet chair Andile Sangqu sketched a gloomy picture for the state-owned logistics group, saying it is staring down the barrel of a debt crisis that could derail its recovery plan and hurt the economy unless it receives a R100bn government bailout.

The entity, whose sprawling operations of railways, ports and pipelines make it a crucial support structure for the economy, has been underperforming in recent months, posting a nearly R6bn loss in the latest fiscal year as rail volumes plunged amid infrastructure challenges that include a lack of locomotives...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.