Cash-strapped Transnet warns of rail tariff hikes to 'recover costs' | Business

Transnet Freight Rail has signalled a need to hike railing tariffs as it plans to take a more commercial approach to the business in a bid to recover costs and invest in infrastructure.

"Part of the problem, as we see it now, is that we haven't been fully recovering our costs," said Transnet Freight Rail CEO Sizakele Mzimela."If we were able to do that, we then would be able to ensure that we continuously reinvest into infrastructure. I'm not saying that is the only problem, but that is a very big challenge for us right now."

Speaking at the McCloskey Southern African Coal Conference in Cape Town, Mzimela said the need to rebase the tariffs is not driven by lower volumes on certain lines, such as the troubled coal export line.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.

_Business Wants to price themselves out of businessso taxis can keep on dominating the transport sector.

_Business If any business makes use of Transnet, then they have rocks in their heads.

_Business Transnet does not get as much attention as ESKOM, but it as bad, if not worse. Despite all the 'Investment' over 3 decades, the capacity is back to mid 1990. Top notch management from the Cadres

_Business Yeah typical. Cover costs by making customers pay.....again.

_Business More money to steal

_Business Need to fund all that corruption and theft somehow

_Business So once again the country must pay more for a non existing service

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cash-flush DRDGold points to modest half-year earnings riseGold producer remains cash flush and debt free as it flags improved takings
Source: BDliveSA - 🏆 12. / 63 Read more »

Rand takes hit as US jobs surge sends dollar higher | BusinessA surge in hiring in the United States renewed worries about aggressive interest rate hikes, bolstering the dollar and whiplashing Wall Street stocks. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Ghana receives R80 million for forest conservation, more African countries to follow | BusinessOn 24 January 2023, Ghana was unveiled as the second African country after Mozambique to receive payments from the World Bank's Forest Carbon Partnership Facility. | News24_Business _Business Buying benz with that money as you read this _Business Am so happy, I don't know what to say you are the best trader I just got the $8,700 alert an hour ago in my Bitcoin wallet account I was a bit busy before now I know trading in Bitcoin with you is legitimate thanks for your opinion and opportunity easy_to_earn80k _Business African Leaders are selling us to the West. African is proof that Covid was a Western, a WHO pandemic. Covid has almost completely disappeared in Africa. We as people are done with the slave trade
Source: News24 - 🏆 4. / 80 Read more »