Durban port partially privatised

[Bloomberg]

Durban port partially privatised

Africa’s biggest harbour will be partly owned and operated by the Philippines’ International Container Terminal Services, a first for South Africa’s national ports company.

 

[porchrat]

Transnet will own a 50% plus one share in a new company that will manage the terminal for 25 years

This just sounds like government with extra steps.

 

[rvZA]

This just sounds like government with extra steps.

50% plus 1 share means they are still in control and ownership and can make all the decisions. Whoever invested just lost a boat load of money. The ANC pulled wool over their eyes and stole their money. They probably deserve this too for making bad investment decisions - something we are seeing more and more under current day business leaders.

It will only have been privatized if the private sector held the majority share. This article is therefore misleading. There was no privatization, not even partially.

 

[Vorastra]

South Africa is seeking to boost private participation in its ports, the poor performance of which is a drag on the economy. In a 2021 World Bank index of container port performance, Durban ranked 364th out of 370, and two other Transnet ports were in the bottom 10.

Doesn't help that the train system in Maydon Wharf barely exists and that the roads, despite the desire and increase of port-bound truck traffic, there has been no attempt at enlarging or improving the roads in any meaningful way.

The police also don't seem to co-ordinate with the port authority to clear out trucks that seem to love blocking everything.

There has literally been almost no consideration to optimise egress from the port.