Transnet CEO reveals expansion plan

Embattled Transnet chief executive Siyabonga Gama said yesterday the parastatal was aiming to be a multibillion-rand global player by 2020.

Speaking at the African Ports and Rail Evolution conference in Durban, he said: “We aim to grow Transnet to a R100 billion business by 2020 and a top five logistics solution provider. All growth paths will be underpinned by a strong focus on maximising use of technology to drive efficiency.”

He did not mention that he might soon be sacked as a result of the board losing confidence in his ability to lead the company.

For Transnet to achieve its aims, the company had to become “digitally obsessed”, said Gama. “We are setting our sights on growing beyond South Africa and into the continent with the aim of becoming Africa’s largest transport logistics company, one that is respected globally.

“If you don’t reinvent yourself, you will have a Kodak moment,” he said, referring to the camera giant’s bankruptcy, largely attributed to its slow embrace of digital technology. – ANA