South Africa advances landmark ports shake-up

AI Summary

South Africa's cabinet has backed separating Transnet National Ports Authority from Transnet and making it a standalone state-owned company. The restructuring would place the national port landlord under direct state ownership and represents a major change to the country's ports sector.

South Africa is pressing ahead with one of the most significant restructurings of its troubled ports sector in decades, with cabinet backing the separation of Transnet National Ports Authority (TNPA) from Transnet and its establishment as a standalone state-owned company. The move would see the country’s national port landlord owned directly by the state rather …