High Court Rules Transnet Must Pay Sasol Over R6 Billion

In a significant court decision, Transnet has been ordered to pay Sasol Oil R3.89 billion in damages and an additional R2.3 billion in interest. This verdict concludes a dispute that began in 2017, revolving around accusations that Transnet excessively charged Sasol for transporting crude oil under a 1991 agreement.

Despite the severe financial impact this ruling has on Transnet, which is planning an appeal, it provides a considerable financial boost for Sasol during a tough economic period. The decision, however, could have major repercussions for Transnet’s future operations and financial health. Experts note that while companies typically do not use litigation as a source of income, for Sasol, this ruling is a significant positive development.

Following the verdict, Sasol’s share price increased by 1.4%.