The MTBPS contained plans to write of municipalities’ debt to Eskom, get Transnet back on track and build more infrastructure.
He said the problems around Eskom cannot be tackled without considering the difficult financial conditions in municipalities that include non-payment and uptake of the debt relief programme outlined in the 2023 Budget.
The review of Eskom’s coal-fired power stations commissioned by the National Treasury is complete and effective implementation of the recommendations will help to transform the electricity sector. Government will shortly share the findings of the report. Many experts were expecting Godongwana to address the problems with logistics in the country as this is an important impediment to economic growth. He said rail underperformance is estimated to have cost up to 5% of GDP in 2022, with losses in the region of R50 billion in the minerals sector alone.
“We acknowledge Transnet’s central role in moving goods and commodities to local and international markets and the implications for business, people’s lives, the economy and our global competitiveness when Transnet is dysfunctional.” Godongwana said only once these three objectives are reflected in Transnet’s corporate and operational plans, will there be a conversation about whether and how government can provide financial support to transform the logistics sector.
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