EFF WELCOMES TRANSNET FINANCIAL RESULTS
Tuesday, 21 August, 2018
The Economic Freedom Fighters (EFF) welcomes Transnet's annual financial results, which illustrates that the State-Owned Company's net profit improved by 75% to R4.9 billion from R2.8 billion in the previous financial year. Transnet Chief Executive Officer Siyabonga Gama illustrated that Transnet exceptional financial results was due to increase in railed export coal volumes, automotive volumes and port containers.
The EFF believes that Transnet's stability and performance is also due to capable leadership of its current Chief Executive Officer, whom the mob led by Pravin Gordhan wants to destroy through witch hunt and victimization of African leadership and executives in State Owned Companies and Government.
The EFF also welcomes Transnet commitment to co-operate with the Special Investigating Unit and the Hawks while they conduct investigations into procurements, matters which the EFF opened the case with the police in June 2017.
The show by the Minister of Public Enterprise, under the pretense of cleaning out corruption, is nothing but a political witch hunt and will cripple Transnet.
The reign of terror by Minister Pravin will cripple state-owned companies because the purge is not based on complete investigations but a political witch hunt. While it may appear to the public as a fight against corruption, without complete investigations, many of the people involved in state capture across key state-owned companies will be removed from their positions without being held accountable or recovery of stolen money.
The EFF has written to the president and boards of state owned companies to not blindly follow the illegal and unlawful instructions of Pravin Gordhan to purge African leadership and Executives in SOCs so that he can replace them with his lackeys. We have also cautioned against the deliberate efforts to cripple State Owned Companies in order to privatize them. State Owned Companies belong to the people of South Africa, not to some overzealous Minister of Public Enterprises, who cannot manage his temperament when interacting with African leadership and executives in government and SOCs. Transnet is a good example that if properly led, SOCs can produce results.
The people of South Africa should closely monitor the intentions of the current minister of public enterprises to cripple SOCs so that he can privatize them into the ownership and control of his white monopoly capitalist handlers. Well done to the leadership of Transnet and we believe that all other state owned companies will regain stability and produce results.
Statement issued by the Economic Freedom Fighters, 21 August 2018
