Budget 2024: SATAWU says govt failed to rescue Transnet by not granting bailout

JOHANNESBURG - The South African Transport and Allied Workers Union (SATAWU) said government failed to rescue Transnet by not granting the embattled state rail firm a bailout.

During the Budget Speech on Wednesday, Minister of Finance Enoch Godongwana explained how state-owned enterprises (SOEs) eroded the fiscus and redirected funds from other sectors.

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The minister said while the logistics giant would not be receiving a bailout, it would be provided with a R47 billion guarantee, which came with conditions.

However, SATAWU spokesperson, Amanda Tshemese, said they were worried about job losses in the sector.

"It is a disappointment. In actual fact, the minister is confirming to the people of this country that they do not have a plan to save Transnet, [and] they do not care about the people of this country. 

“This is despite the meetings we had with him, together with the minister of public enterprises, [and] board members of Transnet. We even made our submissions in Parliament."