Siyabonga Gama Tells CNN About Transnet Future Plans
Saved under Business, News, South Africa, SOUTHERN AFRICA, Transport
Tags: African Railways, Transnet CEO Siyabonga Gama, Transnet Limited
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Transnet CEO Siyabonga Gama was recently interviewed on ‘CNN Marketplace Africa’. Responsible for delivering thousands of tonnes of goods around the country, Transnet are the biggest logistic company in Africa. Host, Eleni Giokos, began the interview by asking Gama to outline the scale of the company’s portfolio.
Gama explained to Giokos: “We run eight commercial ports alongside 3,600km of course line. The railway is 30,300km, and we manufacture both wagons and coaches. Therefore, it is quite a big entity – and that excludes our property portfolio, which is just under $US3 billion.”
To further understand the scale of the South African operations, which account for 70% of Africa’s rail networks, Giokos asked Gama about the importance of South African ports to the continent.
Gama outlined the importance of South Africa, stating that: “Durban is the premiere southern hemisphere port. We want to make sure that we improve South Africa’s gateway status so that we can service landlocked countries.”
Having acquired a $US2 billion capital expenditure in 2017, Giokos asked how Transnet intends to invest money going forward.
Gama told Marketplace Africa that: “This year we are deepening some of our paths in the ports. We continue to assemble new locomotives, and we are looking for other opportunities beyond the borders of South Africa, including in the Gulf countries in West Africa, as well as East Africa. Therefore, there is a whole range of opportunities to explore. We probably have about 25 projects in the pipeline.”
With Transnet looking to expand into new territories, Giokos asked Gama what percentage of South Africa’s revenue will contribute to the overall business. Gama explained to ‘Marketplace Africa’ that: “We are currently at just under 10%, and our view is that 30% to 35% will come from outside of South Africa’s borders over the next five years.”
‘CNN Marketplace Africa’ aired on 10 March at 17:15 SAST on CNN International with repeats on Saturday 11 March at 1815 SAST; Sunday 12 March at 0300 SAST and 0915 SAST; Monday 13 March at 0300 SAST and 1845 SAST.
