Surprise! Transnet stuns by launching biggest privatisation since 1997 after bailout fails | Business

When Transnet announced a week or two ago that it would concession out the country's busiest and most important rail corridor for 20 years to a private company, markets, politicians, the ANC, business, labour, the Presidency, and even the deputy minister of public enterprises was stunned.

The call to the market for a 20-year lease on the Durban to Johannesburg container line published on the last Friday of January surprised everyone. Questioned by annoyed ANC MPs at a parliamentary committee meeting last week, Deputy Minister Phumulo Masualle said the ministry knew nothing about it and"had asked Transnet for a thorough explanation".

The rail concession is the biggest privatisation since 1997, when a chunk of Telkom was sold to a foreign consortium. But, despite the intense contestation in the ANC and from trade unions, that comes with talk of privatisation, nobody had an inkling that it was in the works. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

politicsblahbla _Business Just the other day they were shutting Kazerne down and building it's replacement in Heidelberg. What happened? (Rhetorical question)

politicsblahbla _Business Like for every messed up entity in this country, the question is who would want it? It is probably too far gone to save, and will a private company be allowed to do what is needed to attempt to make it profitable again?

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