Port tariff reductions effective from April

Addressing delegates, which included Transnet and senior government officials, Zuma said the manufactured goods would receive rebates as part of efforts by government in consultation with key stakeholders to ease the cost of doing business in South Africa. This includes the automotive sector that had previously complained about prohibitive port charges.

The launch of the Port of Ngqura takes place just a week after the President officially opened the Dube TradePort in Durban. Both projects were outlined in the state-of-the nation address in which the President unveiled a major infrastructure development programme which he personally leads through the presidential infrastructure coordination commission.

The port has been in construction for the last 12 years and has been integrated with the planning of the Coega Industrial Development Zone for efficiency and the resulting economic benefit to businesses located in the area. It is of major strategic importance for the country and the global maritime industry.

Marking the event, Zuma said: "Today, we take another step forward in our journey of economic development and transformation... The port is key to our infrastructure programme. It is strategic to the country, Africa and the world given its location and potential," he said.

He said the port would serve as a conduit of goods coming in and out of the country, thus facilitating trade between SA, Africa and the broader world.