Transnet takes a hit to save jobs

Transnet saw its profits
dampened by R628 million
in price reprieves the stateowned
company gave some of
its key customers in economic
distress, thereby saving
“thousands of jobs”.
“Skills training and job
preservation is a key element
of the company’s mandate,”
said Transnet CEO Siyabonga
Gama during the group’s
interim results announcement
last week.
He said the rail, port and
pipeline authority planned
to spend in excess of R1.1
billion on bursaries over
the next seven years for the
Transnet Academy, which
offers comprehensive training
pertaining to maritime, rail
and pipelines.
In the last three years,
492 engineering bursaries
have been awarded to
undergraduates, masters and
doctoral students.