Transnet breaks new ground in the privatisation of SA’s ports
SA took a major step towards opening up its ports to private investment, selecting a Philippines-based multinational port operator as a PE partner for a JV to run its flagship Durban container terminal. The deal is the first port privatisation for Transnet, which has faced criticism for the poor performance of its ports, ranking among the worst in the world i.t.o. efficiency and reliability. In a 2021 World Bank index of container port performance, Durban ranked 364th out of 370 and two other Transnet ports were in the bottom 10.