Transnet has reported a stronger financial and operational performance for the year ended 31 March 2026, with increased rail volumes, higher revenue and renewed progress on South Africa’s freight logistics reform programme.

In its annual results media statement, released on 10 September, the state-owned freight and logistics company reported revenue of R88.6 billion, a 7.1% increase on the previous year. Transnet also recorded a R4.6 billion profit, compared with a loss of R1.9 billion in the previous financial year.

The results suggest that some of the interventions introduced to improve the reliability of South Africa’s freight network are beginning to produce measurable gains. However, Transnet also acknowledged that significant operational and financial challenges remain.

Rail Volumes Show Signs of Recovery

Rail volumes increased by 4.9% to 167.9 million tonnes during the reporting period. Transnet attributed the improvement to focused interventions aimed at strengthening network reliability, improving maintenance execution and increasing asset availability. Pipeline volumes also increased during the year.

For customers relying on rail to move bulk commodities, minerals, manufactured goods and other freight, improved reliability can have an impact well beyond Transnet’s own results. More dependable rail services can support better production planning, reduce the need for alternative transport arrangements and improve the movement of goods between industrial areas, ports and export markets.

The company said that customers and industry stakeholders had begun to recognise improvements in rail performance and service delivery. It also noted positive feedback from the citrus sector regarding port operations and their contribution to improved export performance.

Despite this progress, Transnet’s operating environment remained difficult. The company identified derailments, rail network and rolling stock constraints, security incidents, equipment and power disruptions, adverse weather, resource shortages, community unrest and customer-related demand challenges among the issues affecting performance. The rail and port businesses were also impacted by R658 million in take-or-pay penalty adjustments.

Reinvent for Growth Remains Central to Recovery

Transnet’s recovery programme continues to be guided by its Reinvent for Growth strategy. The company said the strategy had supported targeted interventions focused on maintenance, asset reliability, operational discipline, technical capability, procurement and supply-chain efficiency.

These measures contributed to higher rail volumes, stronger cash generation and improved customer confidence, according to the statement. The broader objective is to create a more reliable and competitive freight system capable of supporting South Africa’s economic growth.

The challenge now is to ensure that these improvements are sustained. Freight customers require more than occasional operational gains. They need predictable services, consistent turnaround times and the confidence to plan production, inventory and exports around the available network.

Private Investment Changes the Port Landscape

One of the most significant developments during the year was the implementation of Transnet’s Private Sector Participation strategy through the Durban Gateway Terminal transaction.

Transnet disposed of a 49.999% interest in Durban Gateway Terminal to International Container Terminal Services Inc. (ICTSI) for R10.5 billion, with the transaction taking effect on 1 January 2026. The deal generated a reported profit on disposal of R12.5 billion, including a related fair-value adjustment.

Transnet retains a 50.001% shareholding in the terminal, while management control has transferred to ICTSI. The company described the transaction as an important step towards attracting private investment, improving operational performance and supporting the modernisation of South Africa’s port infrastructure.

The transaction also reflects a wider shift in the way the country is approaching freight logistics reform. Public infrastructure remains central to the system, but private-sector participation is increasingly being positioned as a way to bring in capital, technical expertise and operational capacity.

Infrastructure Investment Remains a Priority

Transnet invested R23.3 billion during the year in infrastructure, equipment renewal and operational improvements. The programme focused on the rail network, port performance, asset reliability and operational efficiency.

A further R14.8 billion in grant funding approved by National Treasury through the Budget Facility for Infrastructure is expected to support strategic rail and port projects. Transnet said the funding should assist infrastructure development, improve network performance and reduce future funding requirements.

For the freight industry, the value of this investment will ultimately be measured through practical outcomes: fewer disruptions, improved equipment availability, stronger port productivity and more consistent cargo flows.

Rail Reform Moves Towards Implementation

Transnet also reported progress on the structural reforms affecting South Africa’s freight rail system.

The accounting separation of Transnet Freight Rail into the Transnet Freight Rail Operating Company and the Transnet Rail Infrastructure Manager has been completed. The infrastructure manager is expected to play an increasingly important role in network quality, infrastructure management and reliability.

The company has also concluded rail access agreements with 11 train operating companies. The first private operators are expected to begin services during the 2026/27 financial year.

The introduction of third-party operators is intended to increase network utilisation, expand customer access and support additional freight volumes. Its success, however, will depend on the condition and capacity of the rail network, the effectiveness of access arrangements and the ability to coordinate different operators across shared infrastructure.

The Recovery is Underway, But the Pressure Remains

Transnet’s latest results point to progress, particularly in rail volumes, revenue generation and the implementation of freight reforms. Yet the company’s own statement makes clear that the recovery is taking place against a backdrop of equipment constraints, infrastructure challenges, security concerns and uneven demand.

The focus for the year ahead will be on improving operational reliability, increasing freight volumes, strengthening customer confidence and creating a safer and more efficient operating environment. Transnet also expects further progress in private rail participation and strategic infrastructure projects.

For South Africa’s logistics industry, the key question is whether these improvements can develop into a consistent change in the way goods move through the country. A stronger Transnet could reduce pressure on road freight, support exporters and improve the competitiveness of local industries. But that will depend on turning financial recovery and reform commitments into reliable day-to-day freight services.

Read the full Transnet annual results media statement (10 September)

South Africa’s transport and logistics SMEs will converge at the 4th Annual Access Road Freight SME Summit 2026, taking place on 21–22 October 2026 at the Indaba Hotel, Fourways, Johannesburg.

Under the theme “Unlocking Working Capital: Practical Strategies. Stronger Cash Flow. Sustainable Growth for SMEs,” the two-day Summit will bring together SME operators, fleet owners, transport professionals, financial institutions, industry leaders, policymakers and service providers to address one of the most pressing challenges facing the sector: access to and effective management of working capital.

Florence Msundwa: Founder and Convener – Road Freight SME Summit 

According to Florence Musundwa, host of the Road Freight SME Summit, the event was built to move beyond the traditional funding conversation. “Access to capital remains a real constraint for transport SMEs, but this Summit is about helping operators optimise cash flow, unlock the value of assets they already have, and build commercially sustainable businesses,” Musundwa says.

Unlocking Working Capital

For many transport SMEs, access to capital remains a significant constraint. However, the 2026 Summit will go beyond the traditional conversation around funding to examine how SMEs can optimise cash flow, unlock the value of their existing assets and build commercially sustainable businesses.

Key discussions will focus on:

• Capital Access in a High-Risk Industry: Unlocking working capital and scaling beyond survival.
• Beyond Cashflow: Using purchase-order finance to scale loads, fleets and revenue capacity.
• The Real Cost of Your Fleet: Route profitability, margin audits and data-driven fleet decisions.
• Future-Proofing SME Fleets: OEM strategy, asset financing and commercial vehicle innovation.

“The programme will also unpack practical strategies and digital solutions to help transport businesses strengthen cash flow, improve operational efficiency and make better commercial decisions,” adds Musundwa.

Senior Industry Leaders at the Table

The 2026 Summit brings together an impressive line-up of industry leaders, executives and decision-makers, including:

• Lwazi Mboyi — Chief Executive Officer, Cross-Border Road Transport Agency
• Maphefo Anno-Frempong — Chief Executive Officer, Transport Education Training Authority (TETA)
• Unathi Kildase — Vice President Operations, Game Africa Massmart

• Siyabonga Gule — Founder, Beapo
• Dewald Brand— Contract Success Executive, RNR App
• Musa Ndlovu— National Secretary,  National Bargaining Council for the Road Freight and Logistics Industry (NBCRFLI)
• Stevie Ferreira— Founder, TruckFuelNet (TFN)
• Jonathan McDonald — Vice President, South African Freight and Logistics Association (SAFLA)
• Oliver Naidoo — Managing Director, JC Auditors
• Mesela Nhlapo — Chief Executive Officer, African Rail Industry Association (ARIA)
• Jedd Harris — Chief Strategy Officer, Sourcefin
• Lee-Anne Vermeulen — National Manager: Commercial, Cross-Border Road Transport Agency
• Thabo Moodie — Chief Operations Officer, Oricred
• Dr Paulina Mamogobo — Chief Economist, naamsa| The Automotive Business Council
• Khaya Mahlangu — Managing Director, Cogash Rentals

A featured session will include Stevie Ferreira, Founder of TFN, presenting “From Building TFN to Building What’s Next”, with a focus on optimising working capital and strengthening SME cash flow.

A Platform Built Around Access

Musundwa says the Summit was founded on a simple objective: building access to the relationships, knowledge, markets, finance and opportunities SMEs need to grow. “Access to finance alone isn’t enough. Businesses also need access to customers, procurement opportunities, credible financial solutions, industry intelligence, technology and the decision-makers shaping the sector’s future,” she says.

Strong Industry Support

The 2026 Summit is supported by leading organisations across the sector. Sponsors and partners include FNB, WesBank, TETA, Santam, Absa, Sasol, the Cross-Border Road Transport Agency (C-BRTA), Isuzu and Sourcefin.

Who Should Attend?

• Transport and logistics SMEs
• Fleet owners and transport operators
• Logistics and supply-chain professionals
• Industry stakeholders
• Investors and financiers
• OEMs and asset-financing providers
• Service providers
• Policymakers and government stakeholders

Event Details

Event: 4th Annual Access Road Freight SME Summit 2026

Theme: Unlocking Working Capital: Practical Strategies. Stronger Cash Flow. Sustainable Growth for SMEs.

Date: 21–22 October 2026

Venue: Indaba Hotel, Fourways, Johannesburg

Time: 07:30–16:00 daily

Delegate Fee: R2,500 excluding VAT

Website: www.smeroadfreightsummit.co.za 

Email: [email protected] 

Strong winds regularly disrupt operations at the Port of Cape Town, creating delays that can extend well beyond the harbour. Transnet is now considering wind shields, combined with improved weather forecasting and predictive modelling, as part of an effort to reduce these interruptions and keep cargo moving.

The proposal comes as the port continues to look at ways of improving its ability to operate during adverse weather. The focus is not on eliminating the effect of strong winds, but on reducing the amount of time they prevent equipment from operating safely.

That matters because lost operating time at a major port can quickly become a problem for exporters, shipping companies and businesses further along the supply chain.

Why Strong Winds Disrupt Port Operations

Much of the work at a container port depends on large pieces of equipment, including ship-to-shore cranes, operating safely.

When wind speeds reach certain levels, those operations may have to be restricted or stopped. The resulting delays can affect when cargo is loaded and unloaded and, in turn, when vessels are able to leave the port.

A disruption to one operation can also affect the schedule of others.

For exporters, the consequences can be significant. Cargo may already have been transported to the port, prepared for export and scheduled for loading. When operations are interrupted, those goods can remain in the system for longer, creating uncertainty around delivery times and additional pressure on transport and storage arrangements.

The Wind Shield Proposal

Transnet is considering wind shields as one way of reducing the impact of strong winds on port operations.

The concept is relatively straightforward: strategically placed barriers could reduce wind speeds in areas where equipment is operating, potentially allowing some activities to continue safely for longer during periods of adverse weather.

The objective is not to make the port immune to wind. Instead, the proposed infrastructure is intended to reduce the frequency or duration of stoppages caused by conditions that currently prevent equipment from operating.

That could give the port more usable operating time, particularly during periods when strong winds would otherwise restrict activity.

Forecasting Matters Just as Much

The physical wind shields form only part of the proposed approach.

Transnet National Ports Authority has been working with the Council for Scientific and Industrial Research (CSIR) on a wind study and predictive modelling for the Port of Cape Town.

The work is designed to improve understanding of how wind conditions affect port operations and provide more localised information that can support operational decisions.

The Western Cape Government reported in February that the forecasting model had been tested and integrated into the port’s operational support system. The system provides localised wind forecasts and information intended to assist Port Control when making decisions about operations.

The practical benefit is better preparation.

Accurate forecasting can give port operators more warning of potentially disruptive conditions, allowing them to adjust operations and plan around periods of severe wind rather than reacting once a disruption has already occurred.

Why Exporters Feel the Impact

The effects of a port disruption are not confined to the port.

Take an agricultural exporter. Produce may have been harvested, packed, transported to Cape Town and prepared for loading onto a vessel bound for an overseas market. If strong winds interrupt operations, the shipment can be delayed even though every previous stage of the journey has been completed.

That delay can affect schedules, transport planning, storage and the timing of when goods reach their destination.

The Western Cape Government has highlighted fruit exports in particular when discussing the need to reduce weather-related disruption at the port.

For products where timing and condition are critical, improving the consistency of port operations can have a direct commercial benefit.

More Than an Infrastructure Problem

Wind is only one of the factors affecting port performance, which is why the proposed response goes beyond the construction of physical barriers.

The broader work includes forecasting, operational procedures and planning for periods when weather prevents normal activity.

That combination is important. Better infrastructure can reduce the impact of strong winds, but better information can help operators decide how to use the available operating time and prepare for disruption when it cannot be avoided.

The Western Cape Government’s stakeholder work has also identified the need for clearer procedures around stopping and restarting operations and for alternative measures during extended weather disruptions.

A Practical Response to a Recurring Problem

The proposed wind shields are a targeted response to a problem that repeatedly affects the Port of Cape Town.

Rather than treating every weather-related stoppage as unavoidable, the approach is to reduce the effect of strong winds where possible and improve the information available to the people running the port.

For exporters and other businesses that depend on the port, the outcome is ultimately straightforward: fewer disruptions, greater certainty and a more predictable route for getting goods to market.

That is the real value of the proposal. Not simply keeping cranes operating for longer, but reducing the number of times a weather event at the harbour becomes a problem for businesses hundreds or thousands of kilometres away.