HILARY JOFFE: Mix of hope and despair for Transnet
Rail network is to be opened up to private players but targets for state-owned company are far from being met
Last year was the one in which Eskom turned around and the economy started to benefit from opening up the energy market. This year was meant to be one in which Transnet started to recover and SA’s rail network was opened up to private players. But the year has opened with a mix of hope and despair after the release of the final network statement on Christmas Eve and Transnet’s interim results on New Year’s Eve.
Hope, because the network statement is a first crucial step on a journey that will see the end of Transnet’s rail monopoly, bringing new private sector operators onto the tracks. Despair, because the latest results show that while Transnet’s rail and port operations have stabilised they are still far from meeting the targets of the state-owned company’s own recovery plan, never mind the targets it needs to achieve to support SA’s economic and export revival...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
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.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.