Treasury announces R47 billion bailout for Transnet
WEBTransnet’s multi-billion rand guarantee facility from the National Treasury has been roundly welcomed as a step in the right direction, but industry players have cautioned that it was not a...
Phillips says Transnet not yet on track to meet 193Mt rail ‘stretch …
WEB3 days ago · 4 min. Meeting the 193-million-ton rail stretch target set under the newly launched second phase of the partnership between business and government would require a significant amount of work and ...
Transnet Freight Rail has officially split into two - News24
WEB3 days ago · Read more on: transnet untu transnet freight rail michelle phillips rail reform labour. Show Comments () Transnet's majority union says the decision to split the rail business appears rushed and ill-considered, as challenges abound and the consultative process is far from complete.
Transnet steams ahead with R5bn loan - Daily Maverick
WEBSep 1, 2024 · The first loan, of R5-billion, will go to Transnet to improve and modernise the freight rail sector. This means that over the last five years, the NDB will have approved loans of R9.5-billion to ...
South Africa throws troubled Transnet $2.5 bln lifeline
WEBDec 1, 2023 · South Africa handed Transnet a 47 billion rand ($2.5 billion) lifeline on Friday, which it said would help the state-owned rail and ports firm meet its immediate debt obligations.
Cyber attack disrupts major South African port operations
WEBJul 22, 2021 · Transnet's official website was down on Thursday showing an error message. Transnet, which operates major South African ports, including Durban and Cape Town, and a huge railway network that...
Transnet unveils ambitious recovery plan to tackle ... - News24
WEBOct 26, 2023 · In a bid to navigate the treacherous waters of the modern freight logistics landscape, Transnet has embarked on an ambitious journey to address a myriad of internal and external challenges. Appointed on 11 July 2023, the Transnet board, under the leadership of its chairperson, Andile Sangqu, set forth …
Transnet Breaches Loan Terms Again as Debt Weighs on Investment
WEBSep 11, 2024 · Transnet SOC Ltd. breached loan covenants for a second year running as the South African port and rail operator staggers under a debt burden that’s constraining investments needed to resurrect ...
SATAWU slams Transnet’s move to split freight rail - SABC News
WEB2 days ago · A Transnet Freight Rail train is seen next to tons of coal mined from the nearby Khanye Colliery mine, at the Bronkhorstspruit station, in Bronkhorstspruit, around 90 kilometres north-east of Johannesburg, South Africa, April 26, 2022. Image Credits : Reuters Katlego Legodi ...
Transnet losing millions in revenue due to inefficiencies at Durban …
WEBNov 20, 2023 · 5 min. Transnet estimates that backlogs and delays in moving shipping containers through its key port in Durban have so far cost it at least R160-million in lost revenue, worsening the...