 Transnet
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.
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 the State Owned Enterprises (SOEs)
Malusi Gigaba, Minister of Public Enterprises
The Office of Public Enterprises was established in 1994 in order to
champion and direct the restructuring of State-Owned Enterprises (SOEs),
ensuring optimum economic and developmental impact. In 1999, a Cabinet
decision was taken so as to accelerate the restructuring of State-Owned
Enterprises. 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 SOEs 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 SOEs;
-
Encouraging Foreign Direct Investment in South Africa thereby
enabling SOEs to access globally competitive technology.
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