South Africa coal giants consider job cuts due to ‘dire’ Transnet rail woes
Glencore Plc and Seriti Resources Holdings Ltd. are contemplating significant job cuts in South Africa due to challenges caused by Transnet SOC Ltd.
Glencore Plc and Seriti Resources Holdings Ltd. are contemplating significant job cuts in South Africa due to challenges caused by Transnet SOC Ltd.
Transnet SOC Ltd. is pivoting more and more towards private partners in attempt to grow and improve its port and railway operations.
Transnet has a new potential strategy – a smaller rail network to focus on delivering more profitable cargo loads.
Budget airline Mango has abruptly suspended its flights after it failed to make outstanding payments for navigation services.
Eskom said auditors have raised concerns about issues relating to Matshela Koko and Brian Molefe, who both ran South Africa’s state-run power utility this year, in their year-end review.
Abax Investments has “significantly reduced” the level of bond purchases in state-owned South African companies over the past three years because of concerns over credit worthiness.
In financial markets, once trust is broken things tend to happen very quickly, sometimes all it takes is a single lender to declare that it is heading for the exit to trigger the financial equivalent of a nuclear explosion.
Africa might be a century behind the Western curve, but visionary leaders are starting to make the same bets which transformed the world’s dominant economies.
As the cost of renewable power generation is plunging, SA’s Government is pushing Eskom into an outdated agenda of “baseload” from nuclear and coal.
SA Government’s obsession with building infrastructure more than doubled the national debt in five years. But generated very little economic growth return.