If exporters cannot move their goods, the economy will stumble
, the state-owned electricity utility with a market niche in keeping homes dark. Transnet, a less familiar state-owned enterprise which operates the freight rail network, as well as ports and pipelines, is a similar mess. And its woes are just as consequential for South Africa’s economy—and that of the wider region.
When it came to power in 1994 the African National Congress took over the supervision of Transnet, which four years earlier had been carved out of the Department of Transport. Transnet veterans advised the new government to allow the company to let rural lines rust and focus on the profitable coal and iron-ore railways. Thedeclined to do so. Instead Transnet eventually showed the typical characteristics of state firms under the ruling party: neglect, patronage and corruption.
Vandalism is another scourge. In the financial year ending last March 31st, 1,500km of copper cable was stolen, says Ms Derby. “It has to be part of syndicated crime,” she says. The effects of negligence are evident. The average distance travelled by locomotives every month is almost a third less than five years ago, reckons. Chrome miners truck the metal to the border with Mozambique, where it is loaded onto trains heading for Maputo. Some Manganese is shipped through Namibia. Yet these planTransnet is paid to move things, so when it carries less freight, it makes less money.
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