In The News South Africa

Transnet apologises unreservedly for no-show at Parliament’s Scopa

JOHANNESBURG, December 6  – The board of South Africa’s state-owned freight and logistics company, Transnet, on Wednesday apologised for failing to appear before the Parliament’s standing committee on public accounts (Scopa), saying that it was committed to having proper engagements with lawmakers. Board chairwoman Linda Mabaso and her team were expected to respond to Members of Parliament (MPs) […]

In The News South Africa

Transnet board, executives to be summonsed after no-show in Parliament

PARLIAMENT, December 6 – The board and executives of South Africa’s state-owned freight and logistics company, Transnet, will be summonsed to appear before Parliament’s standing committee on public accounts (Scopa) after a no-show on Wednesday. Board  chairwoman Linda Mabaso and her team were expected to respond to MPs on questionable contracts worth billions of rand, […]

Business In The News South Africa

Transnet delivers improved 2017HY earnings due to increased demand and output

JOHANNESBURG, October 30 – State-owned freight and logistics company, Transnet, on Monday pointed to improved operational performance and a slight rise in consumer demand and mineral production output in the country as it delivered an increase in revenue for the six-months ending 30 September 2017. Transnational said that although the economic environment largely remains under pressure, the company’s strategy […]

Business In The News South Africa

Transnet forges ahead with ambitious SA-Swaziland rail link

JOHANNESBURG, October 13 – South Africa’s state-owned freight logistics group Transnet said on Friday that plans are well under way for its multi-million rand railway project Swaziland Railway. South Africa and Swaziland signed the project Memorandum of Understanding in 2012 with the aim that the Swaziland Rail Link will also serve as back-up to the coal line. […]

Business In The News South Africa

Transnet upgrades fuel pipeline from Durban to Johannesburg

JOHANNESBURG, October 5 – Transnet’s has commissioned its upgraded 55km multi-products pipeline, which will enable it to move four petroleum products from Durban to Johannesburg. When the 24-inch trunk-line was first commissioned in 2012 it transported only diesel. Transnet said the upgrade means the pipeline will now be able to transport an additional two grades of petrol, Unleaded […]

Business In The News South Africa

SA business confidence hit by political uncertainty and corruption – analyst

JOHANNESBURG, September 28 – Business confidence in South Africa was at an all-time low as a result of political uncertainty, poor economic performance, policy confusion and a general lack of leadership, a turnaround strategist said on Thursday. Alastair Macduff, chairman and chief executive of the Turnaround Management Association Southern Africa (TMA-SA), said South African businesses were in […]

Business In The News South Africa

Eskom notes suspension of Business Leadership SA membership

JOHANNESBURG, September 28 – Power utility, Eskom, on Thursday, said it noted a decision by Business Leadership South Africa (BLSA) to suspend its membership with immediate effect over allegations of “state capture”.  “Eskom has noted Business Leadership SA’s (BLSA’s) decision to suspend the company’s membership with immediate effect,” the power utility said in a statement. […]