Durban port deal saves Transnet from another heavy loss
Transnet’s financial recovery masks deeper structural problems. Its debt, which has topped R150bn, remains one of its biggest burdens.
Transnet has reached a deal involving the Port of Durban that rescues the state-owned logistics company from another significant loss. The agreement comes as Transnet continues to carry debt exceeding R150 billion, one of its largest financial burdens.
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But the deal could be a pain point for the proposed retrenchments at the fruit-processing facility in the Western Cape.