Source: Agbiz e-newsletter, 25 June 2021, photo credit: Wärtsilä
President Cyril Ramaphosa has announced the establishment of the Transnet National Ports Authority as an independent subsidiary of Transnet. This will mean the establishment of an independent National Ports Authority as a wholly owned subsidiary of Transnet, with its own board appointed by the minister of public enterprises.
The president was speaking in Cape Town on Tuesday following a tour of the port. The establishment of the Transnet National Ports Authority as an independent subsidiary of Transnet, in line with the National Ports Act of 2005.
“This will create a clear separation between the roles of the infrastructure owner, which is the Transnet National Ports Authority, and the terminal operator, which is Transnet Port Terminals,” President Ramaphosa said.
“The functional and legal separation of these roles, which are currently operating divisions of the same company, will enable each to be fulfilled more independently and with greater efficiency.” Please click here to read a transcript of President Ramaphosa’s announcement.