{"id":59412,"date":"2024-01-12T16:36:11","date_gmt":"2024-01-12T16:36:11","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa"},"modified":"2024-01-12T18:04:24","modified_gmt":"2024-01-12T18:04:24","slug":"another-soe-bailout-brewing-for-south-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa","title":{"rendered":"Another SOE bailout brewing for South Africa"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africa\u2019s National Treasury is considering whether a cash injection is needed to fully fix state port and rail company Transnet SOC Ltd., Finance Minister Enoch Godongwana said.<\/p>\n

Derailments, equipment shortages, vandalism, corruption and poor weather have hobbled Transnet\u2019s operations. That\u2019s prompted companies to cut thousands of jobs to reduce costs as commodities pile up at warehouses and ports. The Treasury agreed last month to provide a 47-billion rand ($2.5 billion) support package to the company, making about half of the amount accessible to meet immediate debt obligations.<\/p>\n

What\u2019s needed to fix Transnet \u2014 which has a 130 billion-rand debt pile \u2014 and improve its logistics network \u201cwill inform whether we do the injection or not,\u201d Godongwana told reporters in Johannesburg on Thursday at a pre-World Economic Forum briefing. \u201cWe\u2019re still doing the numbers.\u201dInefficiencies at Transnet have resulted in deliveries from coal mines on the company\u2019s rail network to the nation\u2019s main coal-export terminal dropping to the lowest level in three decades. Ports have become clogged with vessels, partly due to extreme weather that\u2019s damaged equipment.<\/p>\n

\u201cWe need logistics to work because it\u2019s quite critical for the economy,\u201d Godongwana said.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africa\u2019s National Treasury is considering whether a cash injection is needed to fully fix state port and rail company Transnet SOC Ltd., Finance Minister Enoch Godongwana said. Derailments, equipment shortages, vandalism, corruption and poor weather have hobbled Transnet\u2019s operations. That\u2019s prompted companies to cut thousands of jobs to reduce costs as […]<\/p>\n","protected":false},"author":84,"featured_media":59410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-59412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nAnother SOE bailout brewing for South Africa - South Africa<\/title>\n<meta name=\"description\" content=\"South Africa\u2019s National Treasury is considering whether a cash injection is needed to fully fix state port and rail comp ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another SOE bailout brewing for South Africa\" \/>\n<meta property=\"og:description\" content=\"South Africa\u2019s National Treasury is considering whether a cash injection is needed to fully fix state port and rail comp ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-12T16:36:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-12T18:04:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1705069938.569302.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Another SOE bailout brewing for South Africa\",\"datePublished\":\"2024-01-12T16:36:11+00:00\",\"dateModified\":\"2024-01-12T18:04:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa\"},\"wordCount\":215,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1705069938.569302.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-soe-bailout-brewing-for-south-africa\",\"name\":\"Another SOE bailout brewing for South Africa - 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