President Cyril Ramaphosa has announced the establishment of the independent National Ports Authority as a subsidiary of Transnet, with the aim to make ports more efficient. He says this is a new era for the country’s ports.
Ramaphosa made the announcement after a visit to the Cape Town Port this morning.
He says the creation of a separate subsidiary will allow the ports authority to make its own investment decisions, make ports more competitive, and help grow the economy.
Ramaphosa says this is a win for consumers too.
Ramaphosa says today’s announcement is part of government’s efforts to accelerate the implementation of structural reforms, which are crucial for long lasting economic recovery.
Other examples of this include the recent announcements to allow for Independent Power Producers to generate more of their own power, to lessen the burden on Eskom, and the selling of SAA to a consortium which will be responsible for funding the airline.
Ramaphosa says the efficient functioning of the country’s ports are also vital to grow the economy.
And I am convinced that the establishment of an independent National Ports Authority will mark the beginning of a new era for South Africa’s ports.https://t.co/D4N9xaqoYG
— Cyril Ramaphosa 🇿🇦 (@CyrilRamaphosa) June 22, 2021
