Transnet invested a record R33.6bn in a year, mainly on modernising the railways

Transnet released results saying capital investment for the year increased by 5.7% to an unparalleled R33.6 billion.

Rail accounted for 74% of the total as Transnet accelerated its spending on modernising its rail infrastructure.

The company invested R14.5 billion on growing capacity and R19.1 billion in maintenance of existing capacity.

Scroll down to listen to the interview of Transnet acting CEO Siyabonga Gama.

Our growth is quite impressive considering how weak the economy is.

Siyabonga Gama, Transnet CEO

We have to reduce the cost of doing business in South Africa.

Siyabonga Gama, Transnet CEO

We borrow about a third of what we generate. We’re not a drain on Treasury; we borrow from our own balance sheet on the strength of our own credit rating.

Siyabonga Gama, Transnet CEO

There isn’t much disagreement between us and Prasa about the locomotives they’re testing. The rail safety regulator must make a pronouncement about it.

Siyabonga Gama, Transnet CEO

Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
'Ramaphosa is presenting an image of him as Madiba’s anointed successor'

'Ramaphosa is presenting an image of him as Madiba’s anointed successor'

President Ramaphosa is invoking his inner Mandela for political ends, says Political Economy Analyst Daniel Silke.

How to win elections and influence people

How to win elections and influence people

You could say elections are being disrupted.

Pay back the billions you dodged in taxes, Christo Wiese! – Sars

Pay back the billions you dodged in taxes, Christo Wiese! – Sars

He's been implicated in an elaborate tax-dodging scheme, says amaBhungane’s Craig McKune. Sars wants R3.7 billion from him .

Are the R600 million trains OK or not? An investigative reporter says ‘no’…

Are the R600 million trains OK or not? An investigative reporter says ‘no’…

An investigative reporter discusses the latest on Prasa and the suitability of a R600m fleet of trains it bought from Spain.

The science of Africa’s most developed rail network

The science of Africa’s most developed rail network

Learn more about South Africa’s rail network; an indispensible part of the country’s transport infrastructure.

Can Brian Molefe do at Eskom what he did at Transnet?

Can Brian Molefe do at Eskom what he did at Transnet?

An emerging market economist discusses whether acting Eskom CEO Brian Molefe can turn the limping parastatal around.

Popular articles
Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

You’re either a ‘money slave’ or a ‘money master’ (says author of 'My Money')

The Money Show’s Bruce Whitfield interviews Sugar Creek financial expert and author of “My Money” Gerald Mwandiambira.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Retirement: 8 biggest mistakes people typically make…

Retirement: 8 biggest mistakes people typically make…

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

Friday Profile: Nelson Mandela Foundation's Sello Hatang

Friday Profile: Nelson Mandela Foundation's Sello Hatang

This Friday Azania Mosaka explores the life of Sello Hatang, chief executive officer of the Nelson Mandela Foundation.

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

Join Joburgers from all walks of life come together peacefully, united in their diversity for a fun family day out.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?