A slow trading environment in South Africa, mainly attributed to the slump in commodity prices, has prompted Transnet to consider expanding its services into the rest of the continent, according to South Africa’s state rail-freight operator’s Chief Executive Officer, Siyabonga Gama.
During the recent World Economic Forum on Africa, which was held in Kigali, Rwanda, Gama told Reuters: “We have spent seven or eight years trying to fix our issues at home and we have not paid enough attention to the rest of the continent.”
“The time is now ripe for us to do that.” Any regional expansion would be financed on a project-by-project basis, rather than centrally, he added. “We don’t intend as South Africa to fund all these things. We are looking at project finance. We are looking for the countries to come in as well,” Gama added.