WC govt welcomes Ramaphosa announcement on Transnet National Ports Authority
President Cyril Ramaphosa announced that the Transnet National Ports Authority has been established as an independent subsidiary of Transnet.
CAPE TOWN - The Western Cape government has welcomed President Cyril Ramaphosa's announcement that the Transnet National Ports Authority has been established as an independent subsidiary of Transnet.
The president made the announcement on Tuesday following a tour of the port of Cape Town. He admitted that in recent years, the performance of South Africa's ports had declined.
Finance and Economic Opportunities MEC David Maynier has repeatedly called for the president to come see for himself the problems marring the Port of Cape Town.
He said that the port had experienced significant operational challenges due to aging infrastructure and equipment, staffing shortages and weather disruptions.
“We are particularly pleased by the statement that the establishment of the Transnet National Port Authority will allow our revenues generated by the ports to be invested in port infrastructure, both for the replacement of old equipment, and for the upgrading and expansion of our ports,” Maynier said.
President Cyril Ramaphosa said that this reform would lead to increased efficiency, lower costs and new investment in port infrastructure.
“The implementation of this measure is a crucial part of Transnet’s broader strategy to revitalise our logistics infrastructure. Transnet has put in place an ambitious plan to invest R100 billion over the next five years in upgrading infrastructure across the port system,” said the president.
WATCH: Ramaphosa announces measures to improve South Africa’s ports