A sting in the tail for Transnet’s V&A sale

RAY SMUTS TRANSNET DEFINES Cape Town’s Victoria and Alfred waterfront development (V&A), South Africa’s biggest tourist drawcard. as a ‘non-core’ asset so its 26% stake is up for sale which could net the ailing parastal up to R5 billion. Public Enterprises minister Alec Erwin confirmed the decision at a parliamentary information session on Friday, (February 18) the day on which it also became known that former Scorpions boss-turned businessman, Bulelani Ngcuka, had been appointed chairman of the V&A Waterfront Holding Company. While dismissing any idea that state-owned enterprises such as Transnet, Eskom and Denel would come on the market, Erwin did say the government was intent on selling all non-core assets.