Ramaphosa says Transnet will remain state-owned

Hanno Labuschagne

Hanno Labuschagne

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Ramaphosa says Transnet will remain state-owned

South African President Cyril Ramaphosa reiterated that his administration wasn’t moving to privatise state-owned companies as the government initiates reforms to clean up their balance sheets and revive their performance.

Private sector investment was necessary to mobilise funds for economic infrastructure given the government’s limited fiscal space, Ramaphosa said at a meeting of his party, the African National Congress.

[Bloomberg]
 
Not difficult: just change Transnet into a property rental company called Transrent and lease its assets to businesses that can actually do the job. Ports, rail, carriages and all. It would instantly be the most profitable SOE on the books, because none of the actual business of running a logistics company would be theirs. All they would do is collect the rent, pay themselves a fat salary, tell themselves they are beating capitalism and deposit the profits into the treasury.
 
weekend-party.gif
 
konfab said:
Not difficult: just change Transnet into a property rental company called Transrent and lease its assets to businesses that can actually do the job. Ports, rail, carriages and all. It would instantly be the most profitable SOE on the books, because none of the actual business of running a logistics company would be theirs. All they would do is collect the rent, pay themselves a fat salary, tell themselves they are beating capitalism and deposit the profits into the treasury.
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Woah woah woah hold on their comrade!
 
konfab said:
Not difficult: just change Transnet into a property rental company called Transrent and lease its assets to businesses that can actually do the job. Ports, rail, carriages and all. It would instantly be the most profitable SOE on the books, because none of the actual business of running a logistics company would be theirs. All they would do is collect the rent, pay themselves a fat salary, tell themselves they are beating capitalism and deposit the profits into the treasury.
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Are you cadre?
 
Ramapo3$a is not a businessman. Even though he thinks he is. He is a leech like the other. Private funds will also be stolen.
 
This has everything to do with the transportation of coal and the trucking companies which connected cadres have a vested interest in.
 
Spacerat said:
Ramapo3$a is not a businessman. Even though he thinks he is. He is a leech like the other. Private funds will also be stolen.
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Yep. That's the biggest myth around him. He was chosen by the ANC to become wealthy and purely because of his ties to the trade unions, whose pension funds were leveraged to obtain both personal wealth and wealth for the party.

Cyril Ramaphosa was selected by the ANC to become a major beneficiary in empowerment deals. He was one of a few. These deals where aimed at creating wealth outside of the ANC formal structures. The reason was to firstly entrust selected individuals to gain access to not only substantial wealth but also to ensure that such beneficiaries would donate substantial moneys to the ANC.

The ANC aimed to fund itself via selected and well positioned cadres placed within the private sector.

This was done firstly to create a funding loophole which could not be done within the ANC as the capitals raised were from within its own alliance. Secondly it ensured that the ANC would not need to rely on other companies to raise funds which could have become a risk if the private sector colluded against the ANC. Thirdly it would provide a mechanism for broad based ownership on the JSE and link private sector companies to the ANC.

For this reason, Ramaphosa resigned in 1996 as Secretary General of the ANC. At the time it was stated that he fell out of relations with Nelson Mandela for not being recognised as the successor when Thabo Mbeki. This was a smoke screen as you will see below.
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So yeah, as you said, a leech with connections.

Also a return to form for the ANC, using other people's money by expecting the private sector to fund and fix the disasters they have created.
 
No doubt there will be reforms, and well-thought out ones too. But will or can they be implemented? Is there the skilled staff available to perform this monumental work

The answer to all is NO
 
It's our time to eat.. but will there be something left to eat?
Fast Rail to Polokwane.. but driving on the N1 north you see cables hanging... that fast train will not be as fast if the taxi's that does this route has a say about it.
 
Harold_Crick said:
Yep. That's the biggest myth around him. He was chosen by the ANC to become wealthy and purely because of his ties to the trade unions, whose pension funds were leveraged to obtain both personal wealth and wealth for the party.



So yeah, as you said, a leech with connections.

Also a return to form for the ANC, using other people's money by expecting the private sector to fund and fix the disasters they have created.
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Absolutely all about connected cadres. With the ANC, running a country takes the back seat to shoring up personal wealth and power. Everything points to this country turning rapidly into an Oligarchy.
 
Solarion said:
Absolutely all about connected cadres. With the ANC, running a country takes the back seat to shoring up personal wealth and power. Everything points to this country turning rapidly into an Oligarchy.
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The Russia blueprint.

In the ANC version, the oligarchs are destroying value, so they have to keep stealing.
 
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