Outgoing Industrial Development Corporation (IDC) CEO Tshokolo Petrus (TP) Nchocho has been appointed chairperson of the inaugural Transnet National Ports Authority (TNPA) board.

Nchocho, who announced in March that he would be leaving the IDC, has over 20 years’ experience in development finance and banking, having previously also been CEO of the Land Bank.

His appointment was announced in a joint statement by Public Enterprises Minister Pravin Gordhan and Transnet chairperson Andile Sangqu, and follows the October 10 appointment of the other nonexecutive and executive directors, including Pepi Silinga, who has been TNPA CEO since October 2020.

Nchocho holds a BCom degree from the University of the North, a Master of Business Leadership from Unisa School of Business, an MSc Finance from University of London-UK, as well as an Advanced Management Program from Harvard University.

He will lead what is the TNPA’s first independent board, which has been established in line with government’s policy of separating the landlord and infrastructure functions from port operations in a bid to ensure a more level playing field between Transnet Port Operations and private port operators.

While the TNPA remains a wholly owned subsidiary of Transnet, full separation of the State-owned entity could take place at some point in the future as government pursues freight logistics reforms aimed at improving the performance of the country’s ailing ports through leases and concessions to private operators.

Likewise, effort are under way to vertically separate Transnet’s monopoly rail business into operational and infrastructure components.

By the end of October, Transnet Freight Rail (TFR) will be separated into two divisions, named the Transnet Freight Rail Operating Company, or TFROC, and the Transnet Rail Infrastructure Manager, TRIM.

The separation is designed to facilitate, from April next year, third-party access to the South African railway network hitherto monopolised by TFR, whose performance has collapsed in recent years.

Gordhan said Nchocho’s appointment served as further affirmation of government’s commitment to enhance TNPA’s strategic position “by equipping it with a depth of skills, knowledge and experience that will support our efforts to improve our ports and boost their contribution to the economy”.

The other TNPA nonexecutives directors named earlier in the moth include: Khomotso Phihlela, Velile Dube, Sue Lund, Valda Grossmann and Clarence Benjamin.

Besides Silinga, the other executive director on the bord is Lionel Billings, who is the TNPA’s CFO.