Public Enterprises Portfolio Committee Chairperson Khaya Magaxa says they are concerned regarding Transnet’s plan to give its slots to the private sector due to non-profitability.
Transnet told the portfolio committee on Public Enterprises on Wednesday that theft, vandalism, and under-performance continue to put Transnet’s revenue in a dire situation.
There has been an over 1000% spike in cable theft over the last five years, with 100km of cables being stolen every month.
Security costs have escalated the state-owned entity’s cost to revenue.
Magaxa says committee members are concerned about the move by Transnet to allow a lot of private entities to enter Transnet. He says this borders on privatisation of the entire entity.
Below is the full interview: