Safmarine: A Confident South African Gem

How times change. From being an outcast in world society, South Africa is now being courted by international investors. From being politically incorrect to have dealings with South Africa, it is now positively politically incorrect not to as the nation struggles to develop economically and hold onto its fragile democracy.

Against this background trade to and from South Africa has boomed. The ports are groaning, literally, under the strain. The container shipping lines are booming, and bulk shipments are exceeding predictions.

Enter Safren, the country’s huge transport and property group, quoted on the Johannesburg Stock Exchange. Its shipping subsidiary Safmarine, which next year celebrates its 50th anniversary, recorded an increase in operating profit of 48.7 percent in the year to June 30. This boosted earnings for the group to R392.2 millions ($107 million) – a 15.2 percent increase on the previous year.

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