We are committed to delivering a focus well engineered business to our valued shareholder
ransnet is committed to delivering a focused, well engineered business to our valued shareholder. In addition to this, a firm emphasis is placed on communicating the Group’s turnaround strategy and financial performance.
Transnet is committed to complying with sound principles of corporate governance and vigilant risk management focus. Furthermore, the Group takes its statutory and regulatory obligations to accurately and appropriately inform the shareholder on the business of the Group seriously.
is the major shareholder of Transnet SOC Ltd
In his address to the first joint sitting of South Africa’s third democratic parliament, President Thabo Mbeki clearly enunciated his vision for lowering the cost of doing business in South Africa, adding that government will
“seek to work with Parliament to expedite the process of the restructuring of our ports to bring in new investment and lower the costs of moving imports and exports”.
He reiterated his message that the
“public sector discharges its responsibilities to our people as a critical player in the process of the growth, reconstruction and development of our country”.
Update on State Owned Companies (SOCs)
Mr Pravin Gordhan is the Minister of Public Enterprises
The Office of Public Enterprises was established in 1994 in order to champion and direct the restructuring of State-Owned Companies (SOCs), ensuring optimum economic and developmental impact. In 1999, a Cabinet decision was taken so as to accelerate the restructuring of State-Owned Companies.
South Africa’s primary challenges are characterized by the legacy of apartheid - highly unequal and racially based services, poverty and a massive rural-urban divide. There are vast racial inequalities in the distribution of and access to wealth, income, skills and employment. In addition, women, especially black women, remain subordinated in terms of income, job opportunities and power relations.
The DPE was tasked with accelerating the restructuring of South African SOCs in an integrated and coherent manner, to promote economic growth, socio-economic development and ultimately, a better life for all. The primary aim of the Restructuring Programme is to re-dress the imbalances accentuated by the legacy of apartheid – not just racial, but also gender.
The DPE Restructuring Programme is key in:
Ensuring wider active participation in the South African economy;
Freeing resources for spending on social services and infrastructure;
Unlocking Private Sector investment so that consumers can benefit from lower prices and higher quality services brought by expanded competition;
Enhancing dynamism and competitiveness to improve the efficiency of SOCs;
Encouraging Foreign Direct Investment in South Africa thereby enabling SOCs to access globally competitive technology.
is the sole shareholder of state owned companies in South Africa.