10 September 2026
The African National Congress Parliamentary Caucus welcomes Transnet’s return to profitability, marked by a R4.6 billion profit for the financial year ending 31 March 2026which indicates strong recovery from the R1.9 billion loss recorded the previous year.
This financial rebound, backed by an unmodified audit opinion from the Auditor-General, shows that the strategic interventions put in place by government are beginning to deliver results. Through the Tactical Recovery Plan and the Freight Logistics Roadmap, there is real progress where operational stability is returning, freight rail and pipeline volumes are moving in the right direction, and efficiency at our ports is improving.
Key financial achievements were driven by a 7.1% increase in total revenue to R88.6 billion, boosted by solid growth in key sectors like container handling and automotive transport. At the same time, strategic initiatives such as the private sector partnership at Durban Container Terminal Pier 2 helped inject fresh capital while ensuring majority ownership remains in state hands. Crucially, targeted balance sheet support from the government, including R196 billion in guarantees provided Transnet with the financial breathing room required to build long-term stability.
Credit must go to Transnet’s leadership, management, and hard-working personnel on the ground. Turning around an enterprise of this scale takes work, and these efforts are vital for South Africa’s broader economy. A functioning logistics network is non-negotiable if we are to grow our exports, support local manufacturing and mining, and lower the cost of doing business.
While celebrating this milestone, the ANC remains conscious of the lingering structural constraints, legacy maintenance backlogs, and security threats such as cable theft and infrastructure vandalism that still hamper daily operations. We urge Transnet to deepen its operational efforts and ensure that this financial turnaround directly translates into expanded capacity, reliable service delivery for South African enterprises, and job creation for our people.
The ANC remains firm in its belief that well-governed, capable state enterprises are essential to driving South Africa’s industrialization and economic growth.
Issued by the ANC Parliamentary Caucus
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