New Transnet chairperson Andile Sangqu has indicated that the troubled State-owned freight logistics group, which has hitherto prided itself on being financially self-sufficient, may require and equity injection to implement a turnaround strategy that is currently under development. The group reported a net loss of R5.7-billion for the 2022/23 financial year on the back of a fall in rail and port volumes and a rise in finance costs to R12-billion from R10.5-billion and in increase in borrowings to R130-billion. In the previous financial year, Transnet reported a R5-billion profit, largely as a result of a R10-billion fair value adjustment, most of which related to its property portfolio.