The locomotive of a Transnet SOC Ltd. freight train transports wagons of coal from the Mafube open-cast coal mine, operated by Exxaro Resources Ltd. and Thungela Resources Ltd., towards Richard's Bay coal terminal, in Mpumalanga, South Africa on Thursday, Sept. 29, 2022. South Africa relies on coal to generate more than 80% of its electricity, and has been subjected to intermittent outages since 2008 because state utility Eskom Holdings SOC Ltd. can't meet demand from its old and poorly maintained plants. Photographer: Waldo Swiegers/Bloomberg
The locomotive of a Transnet SOC Ltd. freight train transports wagons of coal from the Mafube open-cast coal mine, operated by Exxaro Resources Ltd. and Thungela Resources Ltd., towards Richard's Bay coal terminal, in Mpumalanga, South Africa on Thursday, Sept. 29, 2022. South Africa relies on coal to generate more than 80% of its electricity, and has been subjected to intermittent outages since 2008 because state utility Eskom Holdings SOC Ltd. can't meet demand from its old and poorly maintained plants. Photographer: Waldo Swiegers/Bloomberg
Boardroom Talk

Boardroom Talk – Where Eskom went, Transnet is now following, only worse.

Today's piece from our partners at the FT is a must-read for those seeking context.
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Eskom
Transnet
state capture
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