Transnet hobbled by debt burden
Transnet interim chair Andile Sangqu said the huge debt burden hamstrings the ability of the company to generate the cash it needs to stay afloat and build a reservoir to catapult the company to growth and recovery
12 November 2023 - 06:01
While Transnet’s new board is committed to fixing operations at the troubled rail logistics and ports company, the department of public enterprises will discuss ways to give the entity urgent support with government.
“The debt that Transnet carries is a challenge, but at the same time, its operations are also a challenge,” public enterprises minister Pravin Gordhan told Business Times after a parliamentary committee meeting in which the company presented its annual report...
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