Finance minister Enoch Godongwana continues to play hardball with Transnet. There is no new budget allocation for the state-owned logistics company, steeped in debt of R130bn.

Economists from Nedbank and ratings agency Fitch last month predicted additional bailouts for ailing public entities, including Transnet, which they said would result in a steeper increase in debt than the government anticipated. The Treasury had in December provided Transnet with a R47bn guarantee facility to support its recovery and meet its immediate debt obligations. ..

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