Transnet gets R47 billion lifeline

[Bloomberg]

Transnet gets R47 billion lifeline

South Africa’s National Treasury agreed to provide a R47 billion guarantee facility to Transnet, the nation’s beleaguered rail and ports operator.

 

[grok]

Yay, new cars for the cadres!!!

 

[porchrat]

Jesus this is pathetic.

Give it to the private sector like they did the Durban port.

Stop the decay.

Transnet needs to be shrunk to nothing but a glorified land lord.

 

[ToxicBunny]

But I thought they said No cash unless the turn around plan actually showed some improvement?

 

[Sideshow Bob]

A mere 0.03% of tax revenue. Well done PAYE guys, we did it.

 

[ShaunSA]

That's another 47 bill down the toilet then

 

[ToxicBunny]

Jesus this is pathetic.

Give it to the private sector like they did the Durban port.

Stop the decay.

Transnet needs to be shrunk to nothing but a glorified land lord.

I'd 100% agree.. glorified land lord and "logistics" regulator in many ways with no hands in the pie of actually operating things.

 

[Sideshow Bob]

But I thought they said No cash unless the turn around plan actually showed some improvement?

It is not cash but EFT to cayman islands.

 

[ToxicBunny]

That's another 47 bill down the toilet then

Well at least Portia and Brian don't get their hands on that money... we can be thankful for small things

 

[Solver]

Just in time for Xmas. The truck cartel are smiling!

 

[Marius De-Kock]

Jesus this is pathetic.

Give it to the private sector like they did the Durban port.

Stop the decay.

Transnet needs to be shrunk to nothing but a glorified land lord.

If only Jesus could jump in and help. We in SA need it.

 

[porchrat]

If only Jesus could jump in and help. We in SA need it.

We don't need tables flipped and sins forgiven right now.

We need these criminals to go to jail. Maybe even face a firing squad.