Transnet in a sentence

Transnet has Transnet Freight Rail that operates trains, Transnet Engineering that manufactures and maintains rolling stock, Transnet Pipelines which operates the pipeline businesses.

The SIU and Transnet have instituted civil action in the Special Tribunal to review and set aside the contracts and recover financial losses suffered by Transnet due to overpayment of approximately R33.5 million.

A former Transnet CEO himself, Molefe is blamed for one of Transnet's biggest problems: a disastrous R56 billion contract for more than 1 000 locomotives, which has been plagued by allegations of fraud and kickbacks.

Cable theft is not new to Transnet and is an inadequate alibi for poor performance.

Coal arrivals at the main export port collapsed to a 30-year low last year because of Transnet’s poor performance and have fallen even further this year, according to people familiar with the situation.

Meanwhile government is neglecting other significant tasks, like the restructuring of Eskom and Transnet.

Police in Vosman are hard at work doing all their best to locate suspects involved in the damage of Transnet essential infrastructure which resulted in a number of litres of fuel lost and the underground pipeline damaged.

Progress were pipped 28-25 by Safcol after a titanic battle in the final of the Transnet Saldanha Super 8 Easter club rugby tournament on Monday.

The Mineral Council has previously raised concerns that South Africa’s bulk commodity producers missed out R50bn in revenues in 2022 due to problems at Transnet.

Transnet Freight Rail (TFR) CEO Sizakele Mzimela have faced mounting pressure to resign from various industry bodies amid trouble at the parastatal.

Transnet must quickly embark on a clear path to take us out of this crisis and ensure that the operation of our railways and ports contributes to the growth of our economy,” said President Ramaphosa.

Transnet received an unqualified audit opinion in the 2021/22 financial year for the first time in five years, while Safcol received its third.

Transnet respects the independence and processes of these organs of state," the parastatal said in a statement.

Unions say their members want to reimburse Transnet through accumulated leave days, or repay the money over several months.

However, these bold initiatives were put on hold as Transnet and Seaworld became embroiled in litigation stemming from issues over the contract they both signed.

In late 2023, Transnet requested a R61 billion bailout.

In October 2023, the Special Investigating Unit obtained an interdict preventing them from withdrawing their pension benefits from the Transnet Retirement Fund.

That’s equivalent to about four months of interest payments on Transnet’s R130 billion debt – half of it the result of state capture.

The budget will also address issues like load shedding, Eskom's debt, Transnet, and state-owned enterprise bailouts.

To address this, the Eskom debt-relief arrangement was introduced, the SA Post Office was placed in business rescue and a guarantee framework agreement was concluded for Transnet.