(In South Africa) 20,000 Transnet Workers Set to Strike Over Wage Dispute

 

A looming strike by over 20,000 Transnet workers in South Africa over wage disputes threatens to disrupt the economy.

Transnet SOC Ltd, South Africa’s state-owned freight transport and logistics company managing rail, port, and pipeline infrastructure, faces R7.3 billion losses and unsustainable debt, prompting bailout debates. 

A court voided an R8 billion contract amid anti-corruption efforts, while public frustration over mismanagement fuels political discourse.

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Transnet SOC Ltd’s R140 billion debt and only 27 performance targets met in 2023/24 highlight its struggles.

 Corruption scandals, like an executive repaying R7.3 million in bribes, expose systemic issues. 

Public decries Transnet’s decline from profitability, blaming policies like BEE and past leadership.