South Africa’s national port and freight-rail operator is hunting for deals across the continent, from Senegal to Zimbabwe.
Bloomberg reported that in Kenya, the company will seek to operate the first three berths at the port of Lamu, which is being built by a Chinese company.
“Transnet SOC Ltd. has drawn up a list of 18 African nations where it wants to do business and is targeting at least five transactions this year,” said Petrus Fusi, general manager for cross-border strategy.
The company, which already operates in other African countries including Mozambique and Botswana, set aside 20 billion Rand (Sh173 billion) for acquisitions and could get as much as 25 percent of its revenue from outside South Africa within six years.
This will offer a boost to the viability of the new port which has been significantly dependent on the oil prospects found in Kenya and a regional pipeline that has been the subject of regional wranglings and multinational interests.