Transnet Port looks for solutions

Transnet Port Terminal invited the who’s who of the business world to discuss the trends, challenges and developments of business in the maritime industry at Fairmont Zimbali Resort last week.

CNBC Africa financial journalist, Gugulethu Cele said our economy has been described as being in a crisis and hanging from a cliff.

“We narrowly missed an economic crisis and business confidence is at an all time low, which is why this morning is about finding a solution,” said Cele.

Transnet Port Terminal chief executive, Karl Socikwa, assured stakeholders that they have a plan to get through this rough patch.

“We are well into the fourth year of our market demand strategy and so far it has been a success. The seven year program focuses on finding out what we can do to meet demands,” said Socikwa.

“We aim to grow our employees with training and increase job opportunities. We need to ensure our organisation functions at an all time high with increased turn around times in the harbour, tracking of ships and better general flow of volumes. Along with this, we need to make sure we are a financially viable business. The state should not have to show up to save us.”

He said they cannot falter during this time, because people rely on their services.

“If your Christmas presents do not arrive on time, it is our fault for slowing down the transport. Everyone is touched by what we do, so it is important to us that it is done responsibly and the best of our ability.”

He said with the massive Chinese business influx in the country, it is important to remain focused and open minded.

“The Chinese will look out for each other and we have to be smart about how we operate to make it work for us.”

Economist and financial columnist, Xhanti Payi said we cannot let the Chinese fool us with sweeteners.

“We have to be weary of the Chinese money coming into our country. We have not yet atoned for our past sins of debt and credit binging. Throwing money at a problem is not going to make it go away,” said Payi.

“Commodity prices are collapsing and so is our currency. The Rand has dropped 20% since December 2014. This is a disaster for the import/export sector, as businesses cannot plan properly, because the Rand can go anywhere, anytime.We need to start managing our currency.”

He said our country has one of the youngest populations in the world, which we need to use.

“We have a growing workforce and we need to figure out how we can make them employable and get them involved.”

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