Launch of independent ports authority announced by President Ramaphosa
The newly-established National Ports Authority will operate as an independent subsidiary of Transnet.
President Cyril Ramaphosa announced the establishment of an independent National Ports Authority as a wholly owned subsidiary of Transnet, while visiting the Port of Cape Town on Tuesday.
He said the move will allow the ports authority to make its own investment decisions.
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An interim board will soon be appointed by Public Enterprises Minister Pravin Gordhan.
"This is a significant development because this reform has been delayed for more than fifteen years since the National Ports Act was promulgated,” said Ramaphosa.
"It has taken that long and today, we are reforming this whole process so that we can gain great efficiencies.”
