Transnet urged to engage before presenting a R100bn bail-out ‘invoice’

Finance Minister Enoch Godongwana has not “closed the door” on Transnet’s move to secure a reported R100-billion in balance-sheet support to assist with its recently released turnaround plan. However, in a Medium-Term Budget Policy Statement (MTBPS) briefing, he insisted that far more engagement was required by the troubled State-owned freight logistics utility to build trust with government on whether it was was ready to cut costs and improve efficiencies before “presenting an invoice”. He also indicated that he was not interested in negotiating with the group through the media.