PRESIDENT Cyril Ramaphosa has announced the establishment of the Transnet National Ports Authority as an independent subsidiary of state-owned freight logistics group, Transnet, on Tuesday.
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.
He added that the launch of the TNPA was part of government’s efforts to accelerate the implementation of structural economic reforms, crucial to enabling a strong economic recovery and to placing the country’s economy on a faster and more sustainable growth trajectory.
Ramaphosa said having an independent NPA as a wholly-owned subsidiary of Transnet, with its own board, will mean that revenue generated by South African ports can be invested in port infrastructure and upgrading facilities.
“There are therefore massive benefits
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