Transnet has launched the second phase of its Recovery Plan to address operational, financial and governance challenges. The Recovery Plan, initiated in October 2023 and entering its second phase on 1 April 2024, focuses on improving rail and port operations, equipment availability, reliability and maintenance planning. Transnet Group CEO Michelle Phillips highlighted progress, including increased locomotive returns to service and new port equipment deliveries, resulting in an estimated 12.8% year-on-year increase in total revenue. However, issues like a 4.4% shortfall on the iron ore line from Sishen to Saldanha Bay persist, leading to a total that is 1.8% below the target of 154.4 million tons in March 2024. Despite the progress made, Transnet reaffirmed its commitment to attracting private sector participation throughout the business as part of its corporate strategy and in accordance with government policy.
