In The News South Africa

Transnet chairwoman resigns on eve of meeting with government

CAPE TOWN, May 4- The chairwoman of Transnet, Linda Mabaso, has resigned with immediate effect, Public Enterprises Minister Pravin Gordhan said on Thursday. Mabaso’s resignation comes on the eve of a shareholder meeting called by Gordhan for Friday. “I accepted her resignation, which took effect immediately,” Gordhan said in a statement. Two non-executive directors, Vusi […]

In The News South Africa

Minister Brown orders Transnet to report irregularities over locomotive contract

Johannesburg, February 20 (Reuters) – South African Public Enterprises Minister Lynne Brown on Tuesday ordered rail-utility Transnet to report to law enforcement officials irregularities on the 54 billion rand procurement process of the locomotives in 2014. She said Transnet, which operates nearly three-quarters of the African rail-network, had been investigating allegations of corruption in the […]

In The News South Africa

SA’s public enterprises minister hints Transnet board could be “rotated”

PARLIAMENT, January 23 – Public Enterprises Minister Lynne Brown on Tuesday suggested board members of Transnet, South Africa’s state owned freight and logistics company, could be “rotated” should they not guard the integrity of the entity.   Brown was speaking in a meeting of Parliament’s standing committee on public accounts (Scopa) where MPs took Transnet […]

Lead South Africa

Transnet board, executives expected in hot seat after being summonsed by Parliament

PARLIAMENT, January 23 – The board and executive management of South Africa’s state-owned freight transport and logistics company, Transnet, are expected to appear before Members of Parliament (MPs) on Tuesday, after Parliament issued them with summonses. The summons was issued in December shortly after executive and non-executive directors of the company failed to appear before […]

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. […]