Gloria Motsoere22 February 2024 | 5:46

Budget 2024: SATAWU says govt failed to rescue Transnet by not granting bailout

Minister of Finance Enoch Godongwana during his budget speech said that underperforming SOEs were eroding the country’s fiscus and redirecting funds from other sectors.

Budget 2024: SATAWU says govt failed to rescue Transnet by not granting bailout

Picture: Rejoice Ndlovu/Eyewitness News

JOHANNESBURG - The South African Transport and Allied Workers Union (SATAWU) said government failed to rescue Transnet by not granting the embattled state rail firm a bailout.

During the Budget Speech on Wednesday, Minister of Finance Enoch Godongwana explained how state-owned enterprises (SOEs) eroded the fiscus and redirected funds from other sectors.

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The minister said while the logistics giant would not be receiving a bailout, it would be provided with a R47 billion guarantee, which came with conditions.

However, SATAWU spokesperson, Amanda Tshemese, said they were worried about job losses in the sector.

"It is a disappointment. In actual fact, the minister is confirming to the people of this country that they do not have a plan to save Transnet, [and] they do not care about the people of this country. 

“This is despite the meetings we had with him, together with the minister of public enterprises, [and] board members of Transnet. We even made our submissions in Parliament."