President Cyril Ramaphosa has announced the establishment of the Transnet National Ports Authority as an independent subsidiary of Transnet on Tuesday.
This will mean the establishment of an independent National Ports Authority as a wholly-owned subsidiary of Transnet, with its own board appointed by the minister of public enterprises.
The president was speaking in Cape Town on Tuesday following a tour of the port.
“And I am convinced that the establishment of an independent National Ports Authority will mark the beginning of a new era for South Africa’s ports. There will be no jobs lost as a result of the creation of the new subsidiary; only greater efficiency and more investment.”
The minister is expected to appoint the new board by 30 June 2021 to oversee the establishment of the new subsidiary.
I have been impressed by the dedication and effectiveness of the new management team at Transnet, which has worked tirelessly to reverse the damage done by state capture and to put the company on a new footing.https://t.co/D4N9xaqoYG
— Cyril Ramaphosa 🇿🇦 #StaySafe (@CyrilRamaphosa) June 22, 2021
Like each of the structural reforms that we are implementing, this announcement was preceded by many months of intensive work by the Department of Public Enterprises, the Department of Transport and Transnet, with the support of #OperationVulindlela.https://t.co/D4N9xaqoYG
— Cyril Ramaphosa 🇿🇦 #StaySafe (@CyrilRamaphosa) June 22, 2021
-EWN
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