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Issue #592

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Breakbulk Quarterly

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2014 Media Kit

S.Africa’s Transnet awards $1.5 billion fuel deal to black companies

By: | at 07:21 AM | Intermodal  

JOHANNESBURG, Dec 5 (Reuters) - South African logistics group Transnet on Thursday said it had appointed nine black owned companies to supply it with fuel over the next five years.

The $1.5 billion deal, aimed at promoting the government’s black economic empowerment drive, is state-owned Transnet’s single biggest contract for goods and services, Public Enterprises Minister Malusi Gigaba said.

“This day will go down in history as the day black economic empowerment took a giant leap forward,” Gigaba told journalists, referring to the programme aimed at redressing historical imbalances created by white minority rule.

Critics of the drive, known as BEE, say it has not benefited the majority poor black South Africans, but has instead only enriched a small, politically-connected black elite.