Transnet’s Gama named CEO of South African Ports, rail operator

Transnet SOC Ltd. Acting Chief Executive Officer Siyabonga Gama was named by the South African government as permanent head of the state-owned ports and rail operator.

Gama, previously the head of Transnet’s freight rail unit, was named acting CEO of the Johannesburg-based company in April 2015, after Brian Molefe was seconded to head Eskom Holdings SOC Ltd., South Africa’s state power company.

Gama has “extensive experience in transport logistics and infrastructure,” South Africa’s Minister of Public Enterprises Lynne Brown said in a statement on Wednesday.“Transnet continues to maintain a good track record of being a sustainable state-owned company and the appointment further assists stabilizing the executive leadership.”

Transnet plans to spend as much as 380 billion rand ($25.9 billion) during the next decade to expand and upgrade rail and port capacity in South Africa, the world’s biggest manganese producer and the continent’s largest source of iron ore and coal.

– Bloomberg