South Africa revamped the board of the state-owned ports and rail operator, appointing a former mining executive as its new chairman as it seeks to improve inefficient infrastructure that major exporters say constrains business. <\/p>\n\n\n\n
The government appointed Andile Sangqu, a former vice president of the Minerals Council South Africa and ex-executive head for Anglo American South Africa, as chairman of Transnet, the Ministry of Public Enterprises said in a statement.<\/p>\n\n\n\n
Among the eight other non-executive directors appointed are Engineering Council of South Africa President Refilwe Buthelezi and Lebogang Letsoalo, a global supply chain coach and chief executive officer of Sincpoint, the ministry said.<\/p>\n\n\n\n
The Minerals Council, a lobby group representing most mining companies operating in the country, estimates South Africa\u2019s poorly run ports and freight-rail lines may have cost the country 150 billion rand ($8 billion) in exports last year.<\/p>\n\n\n\n
Chief Executive Officer Portia Derby, Chief Financial Officer Nonkululeko Dlamini and non-executive directors Popo Molefe and Sydney Mufamadi will retain their posts.<\/p>\n\n\n\n
The \u201cappointments will put Transnet on a firm strategic path that provides critical expertise, experience and acumen for Transnet to optimally and strategically execute on its roadmap,\u201d Public Enterprises Minister Pravin Gordhan said.<\/p>\n\n\n\n
President Cyril Ramaphosa in April directed the company to implement reforms to end the nation\u2019s logistics crisis.<\/p>\n\n\n\n