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Daily Maverick
a day ago
- Business
- Daily Maverick
Private sector signals big appetite for transforming SA's logistics landscape
Transport Minister Barbara Creecy's quest to revitalise South Africa's ailing logistics sector through private sector participation has gained significant traction, with the request for information generating substantial industry interest and setting the stage for major reforms. The Department of Transport's request for information (RFI), which closed on 30 May after an extension due to 'overwhelming interest', received 162 formal responses across three critical freight corridors. The RFI portal alone registered 11,600 visits, signalling a big private sector appetite for participation in South Africa's struggling rail and port infrastructure. Judging by the response breakdown, there's strong interest across all key economic corridors: 51 responses for the iron ore and manganese corridor stretching from the Northern Cape to Saldanha and Nelson Mandela Bay, 48 responses for the coal and chrome corridor linking Limpopo and Mpumalanga to Richards Bay, and 63 responses for the container and automotive intermodal corridor connecting Gauteng to Durban, the Eastern Cape and Western Cape. Creecy, who launched the RFI in March, has been clear about the government's intentions: attract private investment and expertise to bring South Africa's logistics infrastructure to world-class standards while maintaining public ownership of strategic assets. Public ownership with private custodians 'Strategic infrastructure such as rail lines and ports will remain in public ownership, as assets belonging to South African people,' she said, establishing this principle as foundational to the reform process. The minister's approach acknowledges the reality facing state-owned logistics giant Transnet — limited state resources and massive infrastructure backlogs have severely hampered the entity's ability to fulfil its mandate. The solution, according to Creecy's vision, lies in leveraging private capital and expertise while preserving state control over core infrastructure assets. Five pillars of reform The private sector participation process will be guided by five key principles that reflect broader national objectives. Reforming Transnet in accordance with the Cabinet-approved roadmap for freight logistics. This includes the unbundling of Transnet, separating the infrastructure manager from operations, to introduce open access to the freight rail network. Ensuring a just transition with maximum job retention. This highlights the department's commitment to mitigating potential negative impacts on employment during the reform process. Safeguarding state ownership of immovable assets. As mentioned, rail lines and ports will remain in public ownership. Promoting localisation and industrialisation. This aims to develop economic benefits and growth through the private sector participation projects. Supporting Broad-Based Black Economic Empowerment and gender equality. This underscores the commitment to inclusive economic development and transformation within the sector. Under Creecy's leadership, the department has moved swiftly to realise this vision, establishing an interim Private Sector Participation Unit and finalising an agreement with the Development Bank of Southern Africa to host a permanent unit for managing the process. Timeline for transformation The RFI was, of course, just the opening phase gambit of reform. Requests for proposals (RFPs) for freight rail and port projects are expected by August, with the minister projecting 18 to 24 months to reach financial close on these RFPs. The endgame reform agenda is about more than freight logistics. A second RFI batch focusing on passenger rail initiatives will be released in July, covering operational areas including signalling, depots, rolling stock and high-speed rail corridors. The Passenger Rail Agency of South Africa (Prasa) is expected to issue RFPs in October. Creecy has also outlined immediate intervention measures. Independent technical assessments have been completed for the export coal rail network and iron ore corridor, with various funding sources available for immediate rehabilitation efforts, including Transnet's current budget, the National Treasury's budget facility for infrastructure, and private investment through existing customer agreements. A great privatisation? New regulations now allow collaborations between Transnet and private sector operators for short-term interventions to repair and upgrade infrastructure, a convenient bridge while longer-term private sector participation arrangements are finalised. The strong response to the RFI shows significant private sector confidence in South Africa's logistics potential, despite years of operational challenges at Transnet that have constrained economic growth. With all submitted information being treated with strict confidentiality and used exclusively to inform PSP project development, the stage appears set for a fundamental transformation of SA's logistics landscape. DM
IOL News
14-05-2025
- Politics
- IOL News
Police Minister defends SAPS VIP protection
Minister of Police Senzo Mchunu says the SAPS is doing well in providing security services to designated VIPs. Image: Jacques Naude / Independent Newspapers Police Minister Senzo Mchunu has expressed confidence in the police's VIP protection services unit's performance, saying it was doing its job very well. Responding to a question in the National Council of Provinces (NCOP) on Tuesday, Mchunu said SAPS has not received any complaints from the high-profile political figures who are protected by the VIP protection services unit. 'If you take any threat or any incident targeting VIPs or anyone provided with security, we have not received any complaint that the services rendered to them were inadequate. We are satisfied that SAPS are doing their job. 'They are doing well in that aspect of providing VIP services to designated VIPs. I am satisfied, but indicate it is trickling to us that the demand that is being made on SAPS on this matter needs to always be under control by the national commissioner and all of us so that we don't find ourselves in a problem in this regard,' said Mchunu. Asked about the recent attack on the convoy of Deputy President Paul Mashatile, the minister said national commissioner Fannie Masemola confirmed that the incident had allegedly happened as reported in the media and that the matter was under investigation. 'The national commissioner will, at the right time, make good of that statement. We are encouraging him to finalise that report and make it public,' he said about the investigation into the shooting at Mashatile's convoy. Mashatile's convoy was shot at when he was returning from an ANC national executive committee meeting last month. Asked about the steps he was taking to ensure that incidents involving the alleged hit on Mashatile's convoy are not used to justify further escalation of costs of the VIP protection at public expense, Mchunu said the protection of VIPs was regulated by a Cabinet-approved policy and risk management system protection package. 'The policy specifies that the provision of VIP is based on risk determination. Threat assessment will determine security measures for VIPs,' he said. On whether an incident could lead to an automatic increase in security for a VIP, Mchunu said: 'We are saying let's assess first and a decision gets taken accordingly.' He asked that there be a separation of matters when he was probed on whether he could justify the millions spent on VIP 'security bullies' who fail in their jobs while ordinary South Africans wait for months for DNA results. 'As much as one family can be seen to be wasting food and even throwing it away, when the next door is having problems. I do want to separate things, security-related, and the need for money to do other things.' Before taking any action to provide protection for VIPs, Mchunu insisted that an evaluation be conducted and that the measures to be implemented be carefully considered in light of the security risk assessment. 'We need to focus on what we are indicating as criteria for any security, including increase or decrease,' he said. Asked if there was success in disciplining VIP protection members who were found to be on the wrong side of the law in the last five years, the minister said he was not in a position to tabulate the list of successes but can confirm whenever there was an allegation of misconduct, action was taken against affected members. 'These do happen from time to time. The measures taken against members are in accordance with the regulation and follow procedures that are prescribed,' Mchunu said. Cape Times
Hi Dubai
02-05-2025
- Business
- Hi Dubai
UAE's Public Debt Policy Boosts Investor Confidence, Separate from Budget Financing: Ministry of Finance
The UAE's public debt strategy is aimed at strengthening investor confidence and fostering financial market development—not funding government spending—according to Younis Haji Al Khoori, Undersecretary of the Ministry of Finance. Speaking at the second annual Financial Media Forum in Dubai, Al Khoori emphasised that recent bond issuances, including dollar- and dirham-denominated instruments, are not linked to budget financing. Instead, he said, they are part of a broader plan to build a robust Dirham-denominated yield curve and support the country's long-term financial infrastructure. 'The proceeds from these issuances are strategically invested in financial assets that match the bonds' profiles,' Al Khoori noted, adding that this approach ensures fiscal stability and policy sustainability. He confirmed that none of the funds raised have been used to support the general budget. Al Khoori also addressed concerns over fluctuating global oil prices, calling the recent volatility temporary. He noted that prices have since returned to early-year levels and reiterated the UAE's readiness to manage such challenges through prudent financial reserve allocations. This proactive fiscal management, he said, has enabled the country to maintain a balanced budget and post consistent surpluses in recent periods. Regarding future bond activity, Al Khoori confirmed that all Cabinet-approved dollar-denominated bond issuances have been executed, with any new offerings to be announced following the required legislative processes. News Source: Emirates News Agency
Arab News
30-04-2025
- Business
- Arab News
Saudi Arabia raises undeveloped land tax to 10%, expands scope to vacant properties
JEDDAH: Saudi Arabia has raised the annual fee on undeveloped land from 2.5 percent to up to 10 percent of property value, as part of Cabinet-approved reforms to address market imbalances. The amendments to the White Land Tax Law expand its scope for the first time to include levies on long-vacant buildings and revised land-size thresholds for taxation. The changes, ratified by the Cabinet on April 29, mark the most significant overhaul of the law since its inception in 2016. They come as part of a broader effort to accelerate development, counter speculation, and address supply-demand imbalances in the Kingdom's real estate sector, which has seen mounting pressure in key cities such as Riyadh. The reforms support broader efforts to curb speculation, boost land utilization, and enhance access to affordable housing in line with Vision 2030. In a post on his official X account, Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail said: 'The amendments included stimulating the use of vacant properties, and amending the targeted areas and the amount of the fee on undeveloped and developed vacant lands within the urban area, by up to 10 percent.' The revised framework sets a minimum land area of 5,000 sq. meters for the application of the fee, covering both individual plots and contiguous holdings in designated urban areas. It also broadens the tax base to include vacant buildings — defined as ready-to-use buildings prepared for occupancy within the urban area that have not been used for a long period without acceptable justification, and whose lack of use or exploitation affects the availability of sufficient supply in the real estate market. These vacant properties will now face an annual levy of up to 5 percent of their estimated rental value, as specified in forthcoming regulations. The updated law introduces clearer criteria, phased implementation, and enhanced enforcement mechanisms, including grievance channels and unified property databases. The Kingdom originally launched the White Land Tax Law to discourage land hoarding and promote more equitable development. According to the Saudi Press Agency, Al-Hogail stated that the revised system is expected to enhance the efficient use of idle land and buildings, align supply with demand, and promote the productive use of real estate assets. It also seeks to encourage the development of undeveloped land and increase the overall availability of real estate, particularly residential properties. The changes come as Saudi authorities intensify efforts to stabilize the housing market in cities like Riyadh, where surging land values and rental rates have strained affordability. A study by the Royal Commission for Riyadh City and the Council of Economic and Development Affairs recently prompted a series of measures, including lifting development restrictions in large swaths of northern Riyadh. The government will issue executive regulations for the amended White Land Tax Law within 90 days of its publication in the official gazette. Regulations governing vacant property taxation are expected within one year, according to SPA.
Kyodo News
21-04-2025
- Politics
- Kyodo News
Japan PM Ishiba sends offering to war-linked Yasukuni shrine, no visit eyed
KYODO NEWS - 12 hours ago - 12:33 | All, Japan Prime Minister Shigeru Ishiba sent a ritual offering to the war-linked Yasukuni shrine in Tokyo on Monday, as the shrine, seen by Japan's neighbors as a symbol of its past militarism, began a three-day spring festival. Ishiba, however, is not expected to visit the shrine during the festival, according to sources familiar with the matter, apparently because of diplomatic considerations at a time when Japan's ties with China and South Korea have been improving. Yasukuni honors Japan's wartime leaders, convicted as war criminals by a post-World War II international tribunal, along with millions of war dead. Ishiba and his Cabinet ministers did not visit the Shinto shrine during its autumn festival last year, soon after he became prime minister in October. The prime minister also sent a "masakaki" tree offering at that time. "The prime minster made the masakaki offering in a private capacity and therefore it is not something that the government should comment on," Chief Cabinet Secretary Yoshimasa Hayashi said at a press conference. "It is up to the prime minister to decide whether to visit the shrine or not," the government spokesman added. Among Cabinet ministers, health minister Takamaro Fukuoka and economic security minister Minoru Kiuchi sent offerings on Monday. Past visits to the shrine by Japanese leaders, Cabinet ministers and lawmakers drew sharp rebukes from China and South Korea. Japan invaded a vast swath of China before World War II and colonized the Korean Peninsula from 1910 to 1945. This year marks the 80th anniversary of the end of World War II and Ishiba has expressed his readiness to take a fresh look at why Japan went to war and draw lessons from it. But he is not expected to issue a statement, unlike his predecessors who released Cabinet-approved documents on the 50th, 60th and 70th anniversaries, other sources said. Yasukuni added wartime leaders including Prime Minister Gen. Hideki Tojo to the enshrined deities in 1978, stirring controversy at home and abroad. Tojo was executed by hanging for crimes against peace. Related coverage: Japan PM to forgo visit to war-linked Yasukuni shrine for spring rite
