Transnet, a state-owned transport entity in South Africa, has reported a modest increase in the handling of goods and container throughput in its ports and rail network. Despite these gains, the outcomes have not met the objectives outlined in Transnet's logistics recovery strategy. The organization attributes the early signs of improvement to the reform measures introduced recently, although it acknowledges that substantial progress in its logistics operations is still distant. Challenges such as mismanagement, vandalism, and theft of copper cables have previously led to a decline in rail volumes, with a notable decrease from a peak of over 200 million tons in 2019.
For the fiscal year 2023/24, Transnet has presented preliminary and unaudited figures indicating a slight recovery. Under the leadership of new CEO Michelle Phillips, the company reported transporting 151.7 million tons (Mt) of goods via its rail network, a 1.5% increase from the previous year's 149.45Mt. Phillips highlighted an increase in revenue, a reduction in operating costs, and higher volumes, particularly in the second half of the year. Despite these positive trends, the rail volumes achieved are still below the target set in the recovery plan, aiming for 154.4Mt in the 2023/24 financial year.
Source: dailymaverick.co.za