Port of Cape Town improves, now for private sector management
Cape Town Mayor Geordin Hill-Lewis congratulates the Port of Cape Town on its modest improvement in the World Bank’s world port efficiency rankings, reiterating that private sector management of the Port of Cape Town is urgently needed to consolidate this welcome improvement. The port gained the most points globally in the 2024 Container Port Index (CPPI) published by the World Bank and S&P Global Market Intelligence, moving up from last position to 400th out of 403 ports. Read more below:
‘It is most welcome that Cape Town’s port had the most improved score globally in the latest World Bank index, and I congratulate the port management and new Transnet leadership for this encouraging, albeit modest, progress. However, the port still remains among the bottom five in the world. This shows just how far behind the port has been lagging, and underscores the urgent need for Transnet to bring in private sector management to consolidate these ‘green shoot’ gains.
‘An efficient port is essential for job-creating growth in our region. That’s why we are calling for the urgent completion of the national government’s Request For Information process on private sector partnerships for the Port of Cape Town. To keep making progress, we need continued investment in port upgrades alongside more private sector involvement in running the port,’ said Mayor Hill-Lewis.
Mayoral Committee Member for Economic Growth, Alderman James Vos, said an efficient port could create 20 000 new jobs, add R6 bn in exports and over R1,6 bn in new tax revenue according to research from the Western Cape Department of Economic Development and Tourism.
‘We should see further rankings improvement due to Transnet’s ongoing R3,4 bn capital investment, including dozens of new cranes this year with critical anti-sway technology to protect operations from wind. This should improve the port’s ability to cope with weather-related disruptions, which have often forced exporters to divert goods elsewhere at huge costs. We are still some way off being globally competitive however, showing the need for new infrastructure to be complemented by private sector leadership in the port operations,’ said Alderman Vos.