Iron lady: Transnet CEO Portia Derby means business
Transnet CEO Portia Derby has been tasked with turning around an SOE hollowed out by corruption. Getting the R74bn-turnover rail, port and pipeline company back on track will involve clawing back money lost through dodgy deals, cleaning up contracts, and pushing back against the ‘Transnet premium’ — the 30% markup the company is overcharged by contractors
It’s been seven months since Portia Derby was named CEO of one of SA’s biggest companies — the R74bn-turnover transport group Transnet. Not only does this make her one of just a tiny sliver of women heading an SA corporate behemoth, it gives her the odd distinction of now leading a company formerly headed by her ex-husband, Brian Molefe, regarded in some circles as public enemy number one.
As luck would have it, in the week that the FM has a virtual interview with Derby, Molefe was named in a civil case to recover R3.8bn looted from Eskom during his tenure as CEO.